Catalyst for Women in Financial Services

Powerful Essays
The Catalyst for Women in Financial Services

May 9, 2012

University of the Incarnate Word

Table of Contents

Executive Summary……………………………………………………..__

Project Description………………………………………………………__

Literature Review………………………………………………………..__

Research Questions……………………………………………………..__

Methodology….………………………………….………………………..__

Sample…………………………………………………………………………__

Main Findings….…………………………….….………………………..__

Expected Outcomes….………………………………………………….__

References……….………………………………………………………….__

Executive Summary

In 1996, Pamela K. Martens, Judith P. Mione, Roberta O’Brien, and 22 others filed a class action suit in U.S. District Court, New York, against Smith Barney and former Garden City, New York, office manager Nicholas Cuneo, citing a rash of complaints. These included “intimidation, retaliation, and humiliation,” as well as the lack of fairness in pay, denial of promotion, demotion due to maternity leave, unfairness in distribution of accounts, sexual harassment, and discharge without cause. In May of 1998, Judge Constance Baker-Motley approved a settlement, which had been accepted by 23 of the 25 plaintiffs. As part of the settlement in Martens, et. al. v. Smith Barney (S.D.N.Y., 96 Civ3779), Smith Barney was charged with paying for a study of the issues underlying the suit. The female judge ordered a research project done by “Catalyst or other similar firm,” one which understood the issues under study. Catalyst is the nonprofit research and advisory organization working to advance women in business, with office in New York and Toronto. The leading source of information on women in business for the past four decades, Catalyst has the knowledge and tools that help companies and women maximize their potential. Prior research led Catalyst to believe that a gender gap would exist between men and women on some fundamental issues. Men’s opinions were sought to give the women’s



References: Hudson, Veena. "Equality: Women in Financial Services." ACCA Global (2009): 6. Print. Witt, L. Allen. "Gender and the Relationship Between Perceived Fairness." Journal of Applied Psychology 77.6 (1992). Print.

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