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

The London Stock Exchange Group has fired a US staff member over a “concerning video” in which he allegedly follows a black man and asks him if he lives nearby.

The company, which operates Britain’s main stock market, said it had dismissed the employee after an investigation into a video showing 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 said to be the LSEG staff member – and being asked multiple times if he was in the lived in the neighborhood.

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

A spokesperson for LSEG said: “You may be aware of a concerning video shared on social media featuring one of our employees in the US.

“The individual was initially suspended while we investigated the matter. The investigation has now been completed and the employment of the person concerned has been terminated.

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

Social media and jobs

The firing is the latest example of an employee losing their job due to behavior captured on social media.

Jonathan Kaye, a New York investment banker, was filmed punching a woman in the face at a Brooklyn Pride parade in June. Shortly afterwards he left the Moelis investment bank.

A woman named Central Park Karen was fired by investment broker Franklin Templeton after she called 911 for 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 and received praise for the speed of its action.

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

Another commenter, Zach Rosario, added: “LSEG did the homework and did it the right way, we thank you all across the internet.”