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Report: UBS accused of gender discrimination


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Report: UBS accused of gender discrimination

A former broker at UBS Group AG in the U.S. had filed a gender discrimination complaint against the Swiss lender and a male manager, alleging that she was denied the opportunities typically presented to male advisers, Bloomberg News reported.

Christine Carona, who left for Morgan Stanley in July 2017, filed the complaint against UBS and her former boss, James Ducey, in 2017 before the Massachusetts Commission Against Discrimination, according to the Sept. 7 report.

Carona said UBS favors men in distributing lucrative client accounts, which she said depresses women's income, adding that she was never given the generous perks offered to her male colleagues and was denied funding required for team building and client development, Bloomberg added.

In her complaint, she also accused Ducey of stereotyping women and devaluing female brokers' contributions, according to the report.

Both Carona and Ducey declined to comment, while UBS spokesman Peter Stack called the allegations "baseless." "UBS's commitment to creating an inclusive, respectful and merit-based workplace is an integral part of the firm's culture everywhere we do business," Bloomberg quoted Stack as saying.

Carona withdrew the complaint in May and indicated that she intended to file a lawsuit, Bloomberg said. The row is in arbitration, a person familiar with the proceedings told the newswire.