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The drastic measures are rooted in the fear of being falsely accused of harassment in a culture where women are frequently the minority – and often in subordinate roles to men. Wall Street hasn't had its #metoo moment; Harold Ford Jr., a  former U.S. congressman and Morgan Stanley private banker, was fired from the U.S. bank, but not over allegations that he intimidated and sexually harassed a female reporter.

In Swiss banking, where women are a rarity in the C-suite, executives are also worried about the blurred lines between flirtation and harassment. The risk of being falsely accused is minimal, as a 2010 study cited by the «BBC» showed, but it looks to be #metoo's main legacy in Swiss banking. 

Until the Next Hashtag

It all began a year ago when U.S. actress Alyssa Milano reacted to the Weinstein scandal with a tweet asking readers to respond with a #metoo if they also had fallen victim of sexual harassment or been attacked.

The 200,000 #metoo posts that flooded her account kickstarted the movement and since then, all hell seems to have broken loose in big corporations from Hollywood to Zurich and from London to New York. And still, the example of the Swiss banking industry seems to suggest that #metoo won't have been the last hashtag.

Big Bank Worries

Swiss big banks had their own worries that kept them busy this year. UBS for instance hired a high-ranking human resource manager in a bid to calm the waters after a former member of staff said she had been raped. The way the bank had handled the allegations was much criticized. Apart from hiring a dedicated HR manager, the bank also introduced a hotline for victims of sexual harassment.

Over at Credit Suisse, a suspected case of rape – also in London – became a matter for CEO Tidjane Thiam after the victim sent him a letter. Thiam ordered an investigation into the case. The only problem: the letter reached Thiam at the end of February, but had been posted at the beginning of the year. Thiam ordered a second investigation to learn the reason for the delay. Emboldened by the developments at UBS, the victim at Credit Suisse decided to also go public.