Against the Rules with Michael Lewis

Other People’s Money: Anne Clarke Wolff on the Wages of Sexism

17 snips
Feb 22, 2022
In an engaging conversation, Anne Clarke Wolff, a prominent Wall Street executive and founder of a women-owned investment bank, sheds light on the lingering sexism in finance. She reflects on her experiences in the male-dominated environment of the 1980s and discusses the challenges women still face today. Wolff advocates for a more diverse workforce, emphasizing the emotional and financial toll of gender bias. With personal anecdotes, she reveals the shifts in culture and camaraderie while pushing for innovative models that empower women and minorities in the industry.
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ANECDOTE

Mimeographed Liar's Poker

  • Anne Clarke Wolff read Liar's Poker one mimeographed page at a time during her Salomon Brothers training program.
  • This was due to John Gutfreund forbidding employees from buying the book.
ANECDOTE

Forbidden Book

  • John Gutfreund told the entire firm they were not allowed to buy Liar's Poker.
  • He encouraged photocopying if they wanted to read it.
INSIGHT

Self-Sorting Trainees

  • The seating arrangements in the Salomon Brothers training class organically reflected social dynamics, not assigned placements.
  • The front, middle, and back rows naturally grouped people with shared characteristics.
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