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Legal Victory for UBS In Discrimination Case

Traders Magazine, August 2002

Peter Chapman

Union Bank of Switzerland won a victory in its four-year legal battle against a former assistant Nasdaq trader's sex discrimination lawsuit. The big bank was sued in 1998 by Suzanne Raiola, an assistant trader at its UBS Securities unit, in the U.S. District Court for the Southern District of New York. Raiola charged UBS denied her a position in the newly formed UBS Warburg because of her gender. The court disagreed and recently ruled that a February NASD arbitration award siding with UBS would stand.

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