A “Chicago Tribune” investigation included accounts from former staff who described accounts of sexual harassment, misogyny and bullying.
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An investigation revealed by the Chicago Tribune on Saturday detailed a tradition at mortgage lender Assured Price that former staff alleged was affected by bullying, misogyny and sexual harassment.
The outlet spoke with practically 80 former Assured Price staff and reviewed court docket data, inner firm emails, textual content messages and different paperwork as a part of the investigation.
The report targeted on allegations made in opposition to CEO Victor Ciardelli, who staff mentioned was “quick to berate, swear at and demean employees,” in addition to different executives who had been near Ciardelli.
Ex-employees, a few of whom now work at lenders who’re opponents of Assured Price, informed the corporate that their psychological well being had suffered after working for executives on the firm, the Tribune reported.
The Tribune cited ex-employees who detailed a sexualized ambiance inside the firm, the place male staff made sexually express feedback to feminine counterparts.
“Every person that works directly under Mr. Ciardelli is terrified of his potential anger outbursts,” one former assistant wrote in an electronic mail to human sources that was reviewed by the Tribune.
Ciardelli and Assured Price denied all the allegations to the Tribune and offered testimony, surveys and entry to staff who refuted the investigation’s findings. They famous that the corporate has a excessive variety of feminine mortgage officers in comparison with opponents, and mentioned the corporate had taken aware steps to create alternatives for ladies to thrive inside the firm.
In response to the story, a Assured Price spokesperson referred to as the Tribune article a “hit piece written to tarnish our company’s reputation.”
“We categorically disagree with what was written in the article and believe it to be inaccurate,” the spokesperson mentioned in a press release to Inman. “Much of the article was fueled by former disgruntled employees who are now working with a competitor.”
“We provided the Chicago Tribune with a tremendous amount of information that debunked the story that was irresponsibly written,” the assertion continued. “We provided them with over 80 testimonials of current female executives, top female loan officers and former company employees documenting their positive experience at the company and love for the culture.”
The investigation comes after Ciardelli and the corporate have confronted outstanding success and accolades since its founding in Chicago in 2000.
Assured Price grew from 2,500 staff in 2014 to 9,708 at its peak in 2021, the corporate informed The Tribune. Like many lenders amid the excessive rate of interest surroundings, the corporate has struggled and minimize employees over the previous two years. It had 3,871 staff as of April after a number of rounds of layoffs.
The corporate was named a Chicago Tribune Prime Office in 2018, which relies on surveys carried out by an organization not affiliated with the Tribune. In 2016, Ciardelli brokered a deal that landed Assured Price the naming rights for the stadium that’s house to the Chicago White Sox.
Assured Price has constantly been among the many high mortgage lenders by origination quantity and market share.
Replace: This story was up to date to incorporate a remark from Assured Price.
