Analyst abandons Investec sex claim appeal.

Financial News, February, 2003

Investec, the South African-owned investment bank, was spared a potential pound sterling1m ([euro]1.46m) payout Thursday when Louise Barton, the media analyst, abandoned attempts to push through a claim for constructive dismissal.Barton had been appealing against a decision last September, in which an employment tribunal ruled that she was not a victim of sexual discrimination or unequal pay. She had appealed with backing from the Equal Opportunities Commission, but has now dropped the claim.

The tribunal ruled that Investec was entitled to discretion over payments, saying that bonus-setting was a 'rough and ready' science. Investec said it regarded the withdrawal of the claims as the 'appropriate outcome to these proceedings'.