Friday, March 02, 2007

Wall Street's gender agenda


In the cut-throat world of financial trading, Angie Long is a natural. Promoted to head JPMorgan's high-yield credit derivative trading desk at 29, her clients and colleagues describe her as "a force of nature in her markets" and "one of the best strategic thinkers on the street". And until last year, says one client, few could have imagined her doing anything else.

Until, that is, she became a mother. In January 2006, three months after her daughter was born, Ms Long returned to the trading desk. A month later, she was ready to resign.

What happened next would have been unthinkable 20 years ago, when many of Wall Street's trading rooms were still home to overt sexism and exclusionary tactics that oftendrove women away. The investment bank urged Ms Long to take a leave of absence and then come back in a role that would be sustainable for her as a working mother.

"I dealt with some creative people in human resources who told me to think outside of the box. I didn't have to choose a full-time or a standard role," she says.

The result was one of the most unusual working arrangements on Wall Street - a 20-hour week consulting on new product development for JPMorgan's credit derivative trading desk, all the way from Kansas City.

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