Louise Barton Loses Discrimination Case against Investec

Financial News, October 1, 2002 | Go to article overview

Louise Barton Loses Discrimination Case against Investec


Byline: Marc Sousley

Louise Barton has lost her sexual discrimination and unequal pay claim against Investec Henderson Crosthwaite after an employment tribunal ruled the former top-ranked media analyst was not paid less than her male colleagues because of a difference in sex.The watershed decision could quash a deluge of similar discrimination cases in the City of London as it was one of the first that did not involve sexual harassment.

During the four-day proceedings in June, Barton claimed she was paid less than her male colleagues because she was a woman, despite being the top ranked analyst in her sector with over two decades of experience.

Perry Crosthwaite, chairman of Investec Henderson Crosthwaite Securities, testified earlier this year that Barton received less compensation because of her unwillingness to cover large-cap stocks and her small media profile, especially compared to Matthew Horsman, a former media journalist who Barton helped recruit.

The tribunal testimony helped raise the curtain on the opaque bonus system in the investment banking community. It emerged that after being named the top media analyst in a Reuters survey of fund managers last year Barton was awarded a pound sterling300,000 ([euro]478,223) bonus. …

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