Female banker told she cannot have £320k a year despite no longer working
Stacey Macken, the former product manager in BNP Paribas' prime broking division, is no longer employed by the bank. Nonetheless, she is still earning good money. As we noted in September, Macken was awarded £177k ($223k) a year for 15 years as part of the £2.1m settlement of her 2021 gender discrimination claim against the French bank.
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As we also noted in September, however, Macken has been arguing that this isn't enough. She's been back to court in an attempt to increase her total payout from BNP to £3.8m. Success would imply that she would receive £250k+ a year in addition to her income replacement insurance payments, increasing her annual total to around £320k annually.
Today, a court ruled against Macken's new claim. The ruling of the initial tribunal was comprehensive, said the judge, adding that attempts to challenge it were «otiose.»
Under the 2021 ruling, Macken receives 70% of her former salary under the income replacement scheme. The settlement from BNP Paribas covers the salary difference and her bonus. However, her pay rises are limited to 5% a year and she doesn't get holiday pay.
Macken had sought to argue that her payments should rise in line with inflation and that she should receive BNP Paribas' standard holiday increments of two extra days a year for five and 10 years' employment. She wanted to be able to buy and sell those extra days like other employees. And she wanted her holiday pay to reflect her bonus. She said she was unable to press her case previously as she was ill with COVID.
In today's ruling, the judge deemed that Macken's demands were unreasonable. She will therefore have to make do with £177k until she's 65. Macken had also claimed
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