Credit Suisse Ordered to Pay Pregnant Trader €910K

ISLAMABAD: (Web Desk) -A French court has ordered Credit Suisse to pay 910,000 euros ($1.1 million) to a trader whose promotion and raise were withheld after she announced her pregnancy, according to a court order seen by media.

The plaintiff, who joined Credit Suisse in 2009 as a vice president in the French branch of its UK operations, claimed she faced discrimination “because of her sex, her pregnancy, and her status as a mother.” She cited multiple incidents, including what she described as structural sex discrimination and the abrupt suspension of her variable compensation after revealing her pregnancy.

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The Paris Court of Appeal ruled that the evidence submitted by the trader “materially establishes” structural discrimination within the company. The plaintiff had requested a promotion to director three years after joining the bank, but the request was never granted. Following several maternity leaves, she and the bank agreed to a mutual termination in June 2016.

A labour court in 2019 had initially awarded her 150,000 euros, which she appealed, arguing it did not reflect her full potential earnings at the bank. Credit Suisse, now part of UBS, can still appeal Tuesday’s ruling, which is not yet final.