City traders have long suffered from a reputation for testosterone-fuelled excess but now a leading US hedge fund is facing a lawsuit over a surfeit of different hormones - a trader is suing SAC Capital Advisers, alleging that he was forced to take female hormone tablets in an attempt to make him less aggressive.
Andrew Tong, who worked for a team with a relaxed trading style, has accused his former boss of ordering him to take the tablets because his moneymaking skills would be enhanced if he became more feminine.
Mr Tong, 37, claims the hormones, which he bought on the black market, caused him physical and emotional distress
and led to him wearing women’s clothes.
According to the lawsuit, filed in the Manhattan Supreme Court, Ping Jiang told Mr Tong to take the hormones because he was too aggressive to fit in with his team’s more laid back trading style. The two men are reported to have briefly entered into a sexual relationship.
Mr Jiang, 41, who is said by Trader Monthly to earn over $100 million a year, remains a senior trader at SAC, which has denied the accusations. The fund said: “SAC conducted a thorough investigation and found these scurrilous accusations to be false. We will vigorously defend ourselves and are confident that these claims will be swiftly rejected.”
Parisis Filippatos, Mr Tong’s lawyer, said: “The allegations are neither scurrilous nor false, in fact they are absolutely true and corroborated by scientific evidence.”
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