Centerview Partners Settles Lawsuit with Former Analyst Over Long Hours

Elite New York M&A advisory boutique Centerview Partners has settled a lawsuit with former analyst Kathryn Shiber, who alleged she was fired after disclosing a need for eight to nine hours of sleep per night. The settlement was reached on the eve of a scheduled trial that promised to shed light on the demanding working conditions prevalent on Wall Street.

The Case and Allegations

Kathryn Shiber sued Centerview Partners for disability discrimination under state and federal law, seeking millions of dollars in damages. She claimed the firm improperly terminated her employment due to sleep requirements necessitated by a medical condition .

Shiber joined Centerview in 2020 and was assigned to “Project Dragon,” a high-profile mandate defending Duke Energy against a potential proxy contest led by Elliott Management. After being assigned to the project, she informed the bank of her medical condition and the need for a consistent sleep schedule of eight to nine hours. Initially, Centerview accommodated her with a guaranteed window from midnight to 9 a.m. Free from work obligations.

The Bank’s Response and Dismissal

However, Centerview later dismissed Shiber, asserting that her unavailability during certain hours prevented her from fulfilling the essential functions of her role. The bank argued that the initial accommodation was only intended as a short-term measure .

Settlement and Bank’s Statement

The terms of the settlement remain undisclosed. Centerview stated that Shiber’s legal claims “have no merit” and that they were confident they would have prevailed at trial. Despite this, the bank expressed satisfaction in resolving the matter and focusing on client service .

Potential Disclosure of Financial Information

Prior to the settlement, a judge had ruled that details of Centerview’s revenues, profits, and financial performance could be disclosed during the trial. The bank had attempted to prevent this disclosure, fearing it would create a “David versus Goliath narrative” .

Implications for Wall Street Work Culture

The case garnered significant attention, becoming a focal point in the ongoing debate surrounding working conditions for junior employees on Wall Street, where long hours and demanding schedules are commonplace .