London Stock Exchange Group sacks US employee over ‘racist’ altercation

London Stock Exchange Group has sacked a US member of staff over a “concerning video” that allegedly shows him following a black man and asking him if he lives in the neighbourhood.

The company, which operates the UK’s flagship stock market, said it had fired the employee following an investigation into a video that featured the staff member.

The video is believed to be a clip on TikTok of a black man in Sarasota, Florida, being followed by a group of white men – including a man alleged to be the LSEG staff member – and asked several times if he lived in the neighbourhood.

London Stock Exchange Group did not not elaborate on the nature of the video but in a statement said it operated a “zero-tolerance policy against any form of racism, discrimination, prejudice or harassment”.

An LSEG spokesman said: “You may be aware of a concerning video shared on social media which featured one of our employees in the US.  

“The individual involved was initially suspended while we investigated the matter. The investigation has now concluded and the individual’s employment has been terminated.

“We expect the conduct of our employees to meet a high standard. LSEG operates a zero-tolerance policy against any form of racism, discrimination, prejudice or harassment.”

Social media and jobs

The dismissal is the latest example of an employee losing their jobs as a result of behaviour captured on social media.

Jonathan Kaye, a New York investment banker, was filmed punching a woman in the face during a Brooklyn Pride parade event in June. He left the investment bank Moelis shortly afterwards.

A woman dubbed Central Park Karen was sacked by investment broker Franklin Templeton after she called 911 on a black bird-watcher. Phone footage of her falsely accusing Christian Cooper of harassment in May 2020 was posted online and went viral.

LSEG posted its statement on LinkedIn, drawing approving comments for the speed of its action.

Casey Braxton, an actor in the US, said: “This company deserves respect for taking action. Well done LSEG. This is a real company here.”

Another commenter, Zach Rosario, added: “LSEG did the homework and executed appropriately, we all thank you from the internet.”