Investment bank Schroder Securities has been found guilty of sexual discrimination against a female analyst who was forced to resign because of unequal pay.
At an employment tribunal this week, analyst Julie Bower won her claim of unfair dismissal and two claims of sexual discrimination relating to her dismissal and bonus payments.
The level of compensation has yet to be set.
Bower was given a £25,000 bonus on top of her £120,000 salary in 1998 while some of her male colleagues received higher salaries and up to £1.5m in bonuses.
The tribunal found her bonus did not reflect the market rate and was intended to give her the message that she was not valued. It said this would not have happened if she had not been a woman.
The tribunal criticised Schroder Securities, which is now owned by Citigroup, for having no transparency in its pay system, saying this made it easy for discrimination to occur.
A Citigroup spokesman says: “The judgment is about Schroder Securities in 1999. We have moved on since then. Schroder is now part of Salomon Smith Barney, which is owned by Citigroup, which has developed a robust set of human relations policies over the years.”