Posted by Richard Woodman, Partner
On 1 September 2016 Withy King LLP merged with Royds LLP. The trading name for the merged firm is Royds Withy King. All content produced prior to this date will remain in the name of the firms pre-merger.
Female banker awarded multi-million pound pay out by tribunal
A high-flying banker who found herself the victim of sexist smears has been awarded £3.2million in compensation.
An employment tribunal ruled that Svetlana Lokhova had been subjected to a “disgraceful” campaign of sexual harassment, discrimination and victimisation.
The 33-year-old had joined the Sberbank CIB in 2008 but her position became difficult after she blew the whistle on a colleague who had been accused of insider trading. The individual was subsequently dismissed.
The tribunal heard that Ms Lokhova, the daughter of a Russian shipping broker, had been subjected to a constant litany of personal attacks and insinuations.
At a hearing last year, it was claimed that male colleagues had referred to her as “mad Svetlana”, adding that she was “chemically dependent” and a “major car crash.”
The tribunal found that although she was a “resilient person”, the experience had had a major impact on Ms Lokhova’s mental health and the Judge accepted her claim that, following the ordeal, she would not work in financial services again.
The Central London Employment Tribunal awarded her £3.2million for lost earnings, hurt feelings and aggravated damages.
Speaking afterwards, the former banker said it had been a “long, difficult and draining process” but added that after three years she had finally found justice.
A Sberbank spokesman said: “We are committed to take on board any lessons to be learned.”
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