Female hedge fund manager claims compensation from Commerzbank
A foreign exchange manager dismissed by Commerzbank in October 2014 is claiming compensation after claiming she was excluded from the trading floor at the bank dominated by a “frat club” culture. She claims that key decisions were made during all-male drinking sessions to which she was not invited.
Jenus Fiouzi told a Central London Employment Tribunal that her colleagues often spoke German in front of her, leaving her feeling “isolated and outnumbered”. She is claiming £7 million for loss of earnings and injury to feelings after allegedly suffering sex and race discrimination and unfair dismissal.
She told the tribunal: “On and off the trading floor there was a German ‘boys' club’ culture at the bank, which I would describe as akin to a college fraternity or frat club. There were no senior female managers in sales that I can recall.”
She added: “The men's social relationships really strengthened their working relationships, so by excluding me from the social side, I felt they put up a barrier at work.”
Commerzbank denies all the allegations claiming Ms Fiouzi was let go because she failed to meet targets. In a statement the bank said: “Commerzbank categorically denies that Ms Fiouzi was subjected to any detriment on the grounds of her race, gender or of any other sort. Her descriptions of working life at Commerzbank's London office bear little relationship to the reality and the allegations she makes are all denied.”