The antecedents and consequences of ethical leadership were examined in a study of 894 employees and their 222 immediate supervisors in a major financial institution in the United States. The leader personality traits of agreeableness and conscientiousness were positively related to direct reports' ratings of the leader's ethical leadership, whereas neuroticism was unrelated to these ratings. Ethical leadership influenced followers' voice behavior as rated by followers' immediate supervisors. This relationship was partially mediated by followers' perceptions of psychological safety. Implications for research on ethical leadership and means to enhance ethical behavior among leaders and nonleaders are discussed.