A former United Capital employee is suing the firm, alleging she was racially discriminated against, according to news reports.

Tracey Chung claims she was repeatedly berated and publicly humiliated by a supervisor because she was the only Asian woman in the office, according to a July 30 complaint filed in a Dallas federal court cited by InvestmentNews. She had joined the firm in February 2018 and worked in a United Capital office in the Dallas area as a client service manager, according to her LinkedIn profile, the publication writes.

"The supervisor scrutinized [Ms. Chung’s] every action and constantly criticized her, looking for some pretext to subject [her] to,” the complaint alleges, according to InvestmentNews. “Plaintiff’s supervisor did not similarly humiliate or demean plaintiff’s non-Asian colleagues.”

Chung allegedly went to the firm’s human resources department but its officials sided with the supervisor, according to the complaint cited by the publication. They then allegedly forced Chung to sit down with the supervisor, which “had a chilling effect” and she “was intimidated into backing off her claims,” the complaint says, according to InvestmentNews. The company fired Chung less than two weeks after she reported the supervisor, the publication writes.

"At United Capital, we take diversity very seriously," a United Capital spokesman tells InvestmentNews in an email. "As it relates to the case, we have no further comment at this time."

Chung’s lawyer wasn’t available for comment, according to the publication.


In May, Goldman Sachs acquired United Capital Financial Partners for $750 million in an all-cash deal, making it Goldman’s largest acquisition in several years.