Ex-UBS Broker Successful in Gender Discrimination Claim Against Firm
15 November 2019: A former UBS broker, Christine Carona, has received $1.5 million after she was successful in obtaining a ruling of gender discrimination against her former employer and its branch manager.
The arbitrator held that her former boss, James Ducey and by extension UBS, had treated Carona differently from her peers and has reacted negatively when she complained to HR. Carona, who was a member of the President’s Council – and elite club for top producers at the company – has alleged that the most valuable accounts would frequently be allocated to male financial advisers and that Ducey had often belittled female colleagues, calling her “bitch” on 6 to 12 occasions. He had also made derogatory comments about her personal life to other UBS employees.
Carona will receive $600k, with the remaining funds going towards lawyer’s fees and costs. Commenting on the success of the case, Carona’s lawyer, Dan Rabinovitz of Murphy & King, said “Christine Carona is an inspiration to all those who have been victims of gender discrimination. She showed great courage by standing up against the full force of the UBS Human Resources Department and James Ducey’s management team.”
UBS commented that they disagreed with the outcome of the case, adding “UBS is committed to providing a diverse and inclusive workplace for all our employees.”