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Latest News

Sex discrimination settlement costs Morgan Stanley £29m

by Personnel Today 13 Jul 2004
by Personnel Today 13 Jul 2004

Investment
bank Morgan Stanley has paid out £29m ($54m) to settle a sex discrimination
case involving hundreds of its employees.

According
to the Evening Standard newspaper, the largest single payout, £6.5m ($12m),
will go to a senior female executive.

It
is predicted the case could have major implications for financial institutions
in the UK.

The
Evening Standard reported that as part of the deal – agreed by the bank just
before the case was about to open in New York – hundreds more female Morgan
Stanley employees will share £21m ($40m).

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Some
of the money will be used to fund scholarships for women wanting to work in
financial services.

By Quentin Reade

Personnel Today

Personnel Today articles are written by an expert team of award-winning journalists who have been covering HR and L&D for many years. Some of our content is attributed to "Personnel Today" for a number of reasons, including: when numerous authors are associated with writing or editing a piece; or when the author is unknown (particularly for older articles).

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