finews.com: UBS settles discrimination and harassment claim with Farore Law client

UBS has settled a discrimination and harassment claim brought by a former graduate of the Swiss firm’s investment banking unit in London, reports finews.com.

The graduate, represented by Farore Law, alleged that she had been raped by a superior, and groped by a managing director at a UBS event. The graduate also alleged that she had been transferred repeatedly against her wish during the investigation by UBS and threatened with dismissal should she discuss her ordeal outside the bank. The Swiss bank’s handling of the case through a major London law firm was slammed, and the case continues to be investigated by the the Solicitors’ Regulation Authority.

Suzanne McKie QC, Founder and Managing Director of Farore Law, confirmed that settlement was reached with UBS and that the financial details are sealed. The agreement also includes a five-figure donation to British-based whistleblowing charity Protect. This means that the former graduate will withdraw her claim against UBS, bringing to a close a more than two-year saga.

Several changes have since been seen at UBS, including moving top investment banker Emma Molvidson into an investigative role and adding a J.P. Morgan top executive to its human resources department. Ms. Molvidson also included the additional role of employee conduct risk to her remit in April.

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Source: finews.com