A banker formerly from Goldman Sachs has sued the financial behemoth for more than £1 million ($1.3 million) this month, alleging the working environment at the bank led him to a mental health crisis.
Also known as "working in the world of investment banking".
Goldman’s former global head of recruiting in London between 2018 and 2021, 55 year old Ian Dodd, has claimed that the bank's "chaotic" environment invited both a mental and physical health crisis, a report by Bloomberg says.
Dodd is blaming "a major depressive disorder and heart issues" on the bank, after he was allegedly tasked with "impossible demands", the report says. His trial date has been set for 2025 for the personal injury suit which alleges “physical and psychiatric injuries”.
Dodd's lawyers said in documents: “His onerous workload and the associated stress and uncertainty that he faced when working unreasonable and excessive hours, together with the failure of the defendant’s senior leadership partners to provide him with adequate support, culminated in him wanting to take his own life."
Goldman responded: “If he felt pressure, it was self-generated; it was not imposed on him. If he did work excessive hours, this was not because it was required or expected of him.”
The bank said the claims had "no merit", despite Goldman and other major banks becoming targets for their working conditions - ever since a couple of junior bankers (we wonder where they are now) leaked a PowerPoint slide revealing difficult working conditions during Covid.
Dodd's legal representatives stated that by April 2019, he experienced burnout due to lack of support in managing his excessive workload and that he often worked over 80 hours a week, not counting travel time, and was compelled to stay in a hotel in London for three nights weekly to meet work demands, despite a 50-minute train ride home.
Dodd said he observed many colleagues struggling with stress and emotional breakdowns, often confiding in him, yet he received no support for handling these emotionally taxing interactions.
Dodd has said ever since, his health has been "devastating".
