Podcast Summary: In the City

Episode: Foxtons Staff Faced Groping and Slurs at London Property Broker
Date: February 26, 2025
Host(s): Francine Lacqua, Allegra Stratton
Guest: Damien Shepherd (Bloomberg Reporter, Residential Real Estate)

Episode Overview

This episode explores a months-long Bloomberg investigation into allegations of toxic workplace culture, specifically sexual harassment, racism, bullying, and antisemitism at Foxtons, a major London real estate agency. Reporter Damien Shepherd shares his findings and discusses what these revelations mean for Foxtons and the wider property industry, drawing connections with similar problems in prominent UK firms.

Key Discussion Points & Insights

1. Background and Scope of the Investigation

• Contextualizing Broader Trends: The UK has seen multiple workplace scandals recently, including at McDonald’s, Lloyd’s of London, ODI Asset Management, and Savills.
  • "Figures from the Office for National Statistics show more than a quarter of sexual harassment cases take place in the workplace." (Allegra Stratton, 02:06)
• Initiation: The investigation began six months prior to the episode when Damien Shepherd was contacted by a source via LinkedIn, launching numerous interviews with current and former Foxtons staff.
  • "I got a message on LinkedIn from a source who said they had some information for me...They shared a series of concerning allegations about their time at Foxtons." (Damien Shepherd, 03:03)

2. Nature of Allegations

• Widespread Misconduct: Reports of groping, sexually explicit comments, bullying, antisemitism, racism, and drink driving, with senior management allegedly ignoring or enabling such behavior.
  • "A lot of themes have come up...sexual harassment, racism, bullying, antisemitism and general concerning workplace culture within the company." (Damien Shepherd, 03:26)
• Friday Meetings as a Focal Point: Weekly meetings fueled by alcohol became a hotspot for inappropriate behavior.
  • "Historically these meetings had booze laid out everywhere...often the starting point for incidents of sexual harassment." (Damien Shepherd, 03:41)

3. Industry-Wide Patterns

• Comparisons to Previous Scandals: Prior Bloomberg investigations, such as the one into Savills, showed similar patterns, indicating little industry-wide change.
  • "It looks like the industry's got a long way to go to shake off this reputation. At a time when it's promising to change." (Damien Shepherd, 05:11)

4. Reporting & Retaliation Mechanisms

• Challenges for Victims: Building trust to encourage young employees to speak was difficult; some faced professional retaliation.
• Management Response to Complaints: Inconsistencies in HR’s handling of grievances and, in some cases, outright dismissal or punishment for those reporting issues.
  • "People who've spoken out...have on some occasions seen their flow of leads reduced or cut off completely...eventually being dismissed." (Damien Shepherd, 08:29)

5. Workplace Culture & Leadership

• Culture of Reward and Excess: Leadership's emphasis on social events and driving up deal numbers fostered a party atmosphere.
  • "Foxtons is a fun place to work, it's a social place to work – that whole culture of the booze, the trips away...providing an environment for this type of behaviour." (Damien Shepherd, 09:50)
• Negative Impacts on Staff: Significant mental health toll, with some leaving the industry altogether.

6. Response from Foxtons & Leadership Changes

• CEO Guy Gittins: Steps made since his arrival in late 2022, including removing alcohol from meetings and introducing harassment training; however, problematic behaviors continued into late 2024.
  • "Guy Gittins has implemented some positive changes since coming in as boss. He has removed alcohol from the Friday meetings..." (Damien Shepherd, 11:52)
• Foxtons’ Official Response: The company claims to have proper policies and is concerned by the findings, but the investigation suggests gaps remain.

7. The Industry and Hope for Change

• Increasing Reports City-Wide: Parliamentary reports suggest the City may be “going backwards” on harassment and bullying—though higher reporting could reflect new legislation or emboldened victims.
• Desperation for Change: Whistleblowers hoped the investigation would spark reform.
  • "One of the big reasons why they came and met with the journalists, despite the nerves, was the fact that they wanted to be part of the process to get rid of this behavior." (Damien Shepherd, 13:15)

Notable Quotes & Memorable Moments

• On the prevalence of misconduct:
  “One of the most damning incidents...a woman in her early 20s...shadowing a male colleague and upon returning...he groped her breasts. She told a manager...The manager said, 'that’s just what he's like.'”
  — Damien Shepherd (10:50)
• On retaliation for reporting:
  "People who've spoken out about incidents...have seen their flow of leads reduced or cut off completely, eventually being put on performance targets and sometimes being dismissed."
  — Damien Shepherd (08:29)
• On the purpose of coming forward:
  “They wanted to be part of the process to get rid of this behavior and stop, you know, some very successful people leaving the industry but because of the behaviour that's happening against them.”
  — Damien Shepherd (13:15)

Timestamps for Key Segments

• [01:51]—Intro to the topic and its broader context
• [02:22]—Summary of the allegations against Foxtons
• [02:58]—Start of interview with Damien Shepherd
• [03:41]—Details of Friday meeting culture and its consequences
• [04:38]—Industry track record and prior investigations
• [05:11]—Comparison to Savills case
• [05:35]—[05:54]—Difficulty in sourcing victim testimony and context on CEO Guy Gittins
• [06:57]—Alcohol use during meetings and subsequent changes
• [07:50]—Scope of misconduct across branches; mechanism of silencing whistleblowers
• [09:50]—[10:20]—Cultural drivers and impact on mental health
• [10:28]—[11:15]—Inconsistencies in disciplinary responses and concrete examples
• [11:36]—[11:52]—Foxtons’ response and implemented changes
• [12:29]—Wider City context and discussion of reporting increase
• [13:01]—Reflection on hopes for change

Conclusion

This episode delivers a sobering look at the persistence of toxic workplace culture at one of London’s best-known property firms, despite industry promises and leadership changes. The investigation exposes how problematic behaviors are enabled—and sometimes perpetuated—by company structures and cultural norms that are slow to change. However, there are early signs of attempted reform, and the willingness of whistleblowers to come forward signals hope for long overdue transformation.