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Tuesday, 1 October, 2002, 15:33 GMT 16:33 UK
Woman analyst loses discrimination case
Louise Barton
Ms Barton was a top-rated analyst in the City
A City of London analyst who claimed she was paid less than male colleagues has said she is considering appealing after losing an employment tribunal hearing.

Louise Barton, 52, said it was "a sad day for women in the City" after a tribunal ruled against her equal pay and sex discrimination case against Investec Henderson Crosthwaite.

The decision came after three months of deliberation following a four-day hearing in June.

The media analyst, who started work at Investec in 1990, claimed she left the company after she discovered two men on her team were earning more than her six-figure salary.

'Key characters'

Australian-born Ms Barton, of Fulham, west London, claimed Mathew Horsman, who she had recruited in 1997, and Mike Savage earned bonuses up to three times the size of hers.

This was despite the fact she was bringing in as much or more revenue for the firm.

In its published decision the tribunal found the variation between Ms Barton and Mr Horsman "was genuinely due to a material factor which is not the difference of sex".

It also said Mr Horsman had been identified by Investec chairman Perry Crosthwaite, who gave evidence at the hearing, as "one of the two or three key high profile characters" who could help secure the firm's future.

Appeal grounds

The tribunal found Mr Crosthwaite had put him into Investec's top salary rank in a bid "not to lose him".

"By the early part of 1999 Matthew Horsman was becoming involved in deals that would be substantial revenue generators later that financial year", giving rise to his higher bonus compared with Ms Barton.

Claims involving payments to research analyst Michael Savage were also found by the tribunal to be on material grounds rather than discriminating on sex.

Ms Barton said she and her solicitors, Bird & Bird, were reviewing the tribunal's decision and her grounds of appeal.

An Investec spokeswoman said: "We believe that this result reflects our views that the Investec decision-making process with respect to contractual benefits is fair."


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13 Aug 01 | Business
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