'You had to have a thick skin to work on Wall Street'

Wall Street Bull

Peg Reed knew she was called 'Miss Bitch' on the desk when she was trading currencies on 1980s Wall Street.

While running foreign-exchange desks in New York at the same time, Charlotte DeBenedictis was paid less than the men working for her.

Bloomberg News reports that today these pioneers say that even as their successors climb to the highest echelons in the male-dominated world of currency trading, toughness is still at a premium.

“You had to have a thick skin to work on Wall Street,” said Reed, who traded foreign exchange for Bank of America, Credit Agricole, AIG Trading and Standard Chartered for two decades. “It wasn’t for the faint of heart and you couldn’t take things personally. But it was a very exciting world, and as you grow into senior positions, women have to show that strength.”

In the wake of the trading scandals that rocked the foreign-exchange industry in recent years, the new vanguard of female leadership includes Claudia Jury, who was appointed co-head of foreign exchange and emerging markets at JPMorgan two years ago; Catherine Flax at BNP Paribas and Camilla Sutton at Bank of Nova Scotia, who were both promoted last year. They’re chipping away at Wall Street’s bros’ club - in the 21st century jargon of a gender-bias lawsuit filed in New York this month.

To access the complete Bloomberg News article hit the link below:

Boys’ Club Image Overturned by Rise of Women Currency Traders

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