June 26, 2020 / 3:35 PM / 8 days ago

UBS settles former trader's harassment, discrimination lawsuit

FILE PHOTO: The logo of Swiss bank UBS is seen at a branch office in Basel, Switzerland March 2, 2020. REUTERS/Arnd Wiegmann/File Photo

LONDON/ZURICH (Reuters) - UBS (UBSG.S) has settled a lawsuit with a former junior trader who accused the Swiss bank of mishandling a complaint of rape and sexual assault by senior colleagues against her, representatives for the former employee said on Friday.

“UBS and Ms A have reached a mutual resolution in relation to this matter as a result of which Ms A has withdrawn her claim,” legal representatives for the claimant at Farore Law said.

UBS declined to comment.

The claimant, who cannot be named for legal reasons, alleged that she faced gender discrimination and sexual harassment while working at the bank in London, and filed a claim in Britain for damages against the Swiss lender. reut.rs/2HxMAsq

She also sought damages for alleged victimization suffered after reporting her grievances and alerting managers and regulators to what she described as an “offensive and humiliating” work environment.

The settlement included a five-figure donation to British-based whistleblowing charity Protect, a source with direct knowledge of the matter said, adding all further details would remain confidential.

Reporting by Sinead Cruise and Brenna Hughes Neghaiwi; Editing by Angus MacSwan

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