View more on these topics

Analyst wins sexism case against Schroder Securities

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.”


Merrill Lynch in sector fund range

Merrill Lynch Investment Managers is introducing a range of global sector funds with the aim of helping investors spread the risks of boom-bust cycles. The World Sector Series includes six new funds as well as two established funds and forms part of the Luxemburg-based Mercury Selected Trust Sicav. The six new funds cover energy, financials, […]

Mentor Corp targets IFAs

Mentor Corporation is rolling-out its business services to IFAs. The firm which provides corporate structuring, business risk assessment audits and employee benefit management is targeting IFAs in corporate and high-net-worth markets. Mentor also offers products to assist small to medium size IFA firms with health and safety, director and officer liability coverage, employee assistance programmes, […]

Johnson&#39s letter on advice for stakeholder

After popular demand following our article of March 22, Money Marketing is this week publishing correspondence from the Treasury economic secretary Melanie Johnson to Conservative MP John Randall in which she defends the Government&#39s decision to relax polarisation. In recent issues, we have run articles reporting that Johnson suggests advice is not necessary for stakeholder […]

Isa breakers

March witnes-sed some of the most volatile market conditions of the past few years, with the FTSE plummeting back to 1998 levels. Do you think that nervous investors, who chose not to fill their Isas before the tax year deadline, were right to do so? AB: There is no rule that states you must invest […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm