Maureen Sherry tells all

After Bear Stearns’ 1994 Christmas party, a group of the firm’s female professionals - an investment banker, several research analysts and some institutional saleswomen - adjourned to a restaurant to talk about Bear’s culture and its treatment of women.

All of the original members of the “Glass Ceiling Club” have left Bear, but they still meet every month to continue the conversation. Now club member and former Bear managing director Maureen Sherry, 37, is writing a book about her experiences as a woman on Wall Street. The Glass Ceiling Club will be published next year by Hyperion. “We didn’t want to be whiners,” she says. “We just wanted some things to change.” Sherry - whose husband, former Forstmann Little partner Steve Klinsky, now runs his own private equity shop - has some tough stories to tell. When she returned to Bear from her first maternity leave, in 1997, a man was sitting in her seat on the trading floor; she was told that he would be her partner on some of her accounts. In the months that followed, Sherry’s biggest client, Merrill Lynch Asset Management, was given to a male sales rep, and she says she was no longer included in important meetings or asked to interview job candidates. Sherry left Bear in 1998, after nine years, to be a full-time writer and mother. Bear isn’t commenting on Sherry’s book. Elizabeth Ventura, a Bear spokeswoman, says: “We have not seen the text. It’s difficult to comment on the validity of something we haven’t had a chance to see.”

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