So as a father of two daughters in their 20's, this makes me sad. Instead of attempting to see women as equals and moving to bridge the gap -- the best solution Wall Street can come up with is to further isolate themselves? Why can't these men just learn to treat women like the humans they are?
The article focuses on the self-preservation concerns and it would be a lie to suggest that there's no CYA involved.
But it's not the only dynamic. As a senior exec I both legally represent my employer and am seen to represent it by many employees. If how I act or communicate is misconstrued this could have far reaching consequences.
But more important to both of these (because the real risk of something going pear-shaped isn't that large), is the effect that, seemingly inconsequential, actions can have on the recipient.
As an example, a mentee of mine received an email from a senior colleague asking her to go for drinks. She asked my advice as she felt obliged to go but didn't want to give the wrong impression. She was quite concerned. Turns out, he had invited a number of people who had performed well on a project but had omitted to be clear about why they were invited. Entirely innocent, easily misconstrued.
In my view, if senior folk get more thoughtful about their actions, it's likely to be net positive. There may be some unintended consequences (there usually are) but I don't believe the real risk is especially high.