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Out of the closet on Wall Street
"I was fearful at first that I was risking my career," said Mark Stephanz, a senior investment banker at Bank of America Merrill Lynch, about coming out at work.
June 4th, 2013
09:00 AM ET

Out of the closet on Wall Street

By Blake Ellis,  CNNMoney

(CNNMoney) - Mark Stephanz, a senior investment banker at Bank of America Merrill Lynch, was sure his decision to come out of the closet would end his career.

He had been at the firm for over 20 years, and everyone knew him as a straight, married man with three children. So he knew the news could come as a shock.

"Wall Street has always had that good old boys image, so I was fearful at first that I was risking my career," he said.
But his internal struggle finally became too much to bear. First, Stephanz gradually came out to his family. Then he told his coworkers and managers.

The reaction was surprising. His boss was supportive and said he couldn't believe that Stephanz, who was 47 at the time, had lived his life as he had for so long. His clients, too, were supportive.

That was just a few years ago. If he had come out even earlier, Stephanz doesn't know whether it would have gone so smoothly.

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