Contributed by Philippa Robbins, Rooks Rider Solicitors Employment Group, with contributions by Chloe Magri.

In June 2007, Katharina Tofeji, a working mother, lost her claim against the British branch of the French bank BNP Paribas for sex discrimination, victimization and constructive dismissal. Mrs Tofeji claimed that she received unfair treatment after she announced she was pregnant in November 2004 and again when she returned to work after her one-year maternity leave. Mrs Tofeji asked for a four-day work week to accommodate her childcare requirements but this request was denied.

She claimed that she received a ‘hostile reception’ on her return to work and that her client lists were not restored to her even though, prior to her maternity leave, she had consistently outperformed all other sales traders in her team.

Despite this, the London Central Employment Tribunal dismissed her claims and ruled that she was not wrongfully dismissed nor treated less favourably than her male colleagues.

Read more

NatWest and Everywoman are sponsoring awards for inspirational women in business.

Discover how to find, create, manage and share information for business advantage at Information Management Solutions 2007.

The Women In Law Empowerment Forum is holding part two of their networking series- “Asking for the Business”. Speakers will include: Sharon Bowen, Partner, Latham & Watkins LLP; Shelley C. Chapman, Partner, Willkie Farr & Gallagher LLP; Patricia Skigen, American International Group, Inc.; Heidi J. Sorvino, Partner, Katten Muchin Rosenman LLP; Elizabeth Anne “Betiayn” Tursi, Tursi Law Marketing Management

Register here: https://rrdevents.novamedia.co.uk

For the futures and derivatives industry, the Futures Industry Association Expo is one of the biggest events of the year. It’s a chance for everyone who works in the derivatives market to get together and discuss new developments in the field and the direction of the industry going forward. More than 4000 people from 20 different countries attended the Expo. The crowd included staff at brokerage firms and exchanges, floor traders, pension fund managers, corporate treasurers, CTAs and CPOs, and individual investors.

This year’s Expo focused on the topic of equity futures and options. Commodity Futures Trading Commission acting director Walt Lukken addressed the group on November 27, 2007 and discussed the keys to smart regulation in the futures industry, particularly in light of the credit crunch arising out of the subprime crisis. On November 28, sessions on Exhange Leaders in Equity Options and Algorithmic Trading were popular. On the last day of the conference, November 29, presentations on Building a Mangaged Funds Business and Trends in Managed Funds were well attended.

Of course, there was the gossip of who’s making money and who’s losing it, who is now working where and why certain people weren’t there. It’s the biggest gathering of futures traders, technology vendors and innovative leaders. The best part is that it takes place in Chicago, my hometown.

The biggest gossip was about why the Chicago Mercantile Exchange did not exhibit at the conference. Their space was filled with an FIA booth on the floor and their absence was definitely felt by people who had expected a big appearance by the CME. I personally missed the huge chocolate bars they gave out last year.

I asked a few people on the floor why the CME wasn’t exhibiting and their reasons varied. One person said the CME had too much going on everywhere else and couldn’t fit the FIA into their schedule. Another said that they hadn’t merged the two marketing departments yet to present one booth.

My question is this; what is the CME saying to their many customers that attend the FIA event each year? Please leave a comment below if you have one.

I do have to say this; whatever their reasoning may be, it was a great marketing scheme. The talk on the street was all about why they weren’t there. They probably got more buzz than some firms that actually exhibited at the show.

Further:
23rd Annual Futures & Options Expo
Futures Industry
Chicago Mercantile Exchange

A two day event addressing climate change will include speakers ranging from Governor Jon Corzine to Bill Mckibben. Day one will be an all day conference offering a number of different panels, as well as the start of an expo including vendors for renewable energy, and other green industries. Day two will feature the expo only.

With Women In Mind is a networking group established by the Rooks Rider Solicitors for professional and entrepreneurial women to socialize.

Join Echoing Green’s Social Investment Council for the second annual Be Bold Cocktails,
celebrating the business of social change and saluting some of the world’s boldest leaders.

Be Bold Award Honorees:
Joel Klein, Chancellor of the New York City Department of Education
Richard Chilton, Founder & Chairman, Chilton Investment Company
Vikram Akula, Founder & CEO, SKS Microfinance and 1998 Echoing Green Fellow

Buy a ticket online, and support one of the only global organizations solely dedicated to early stage social sector investing.

https://www.events.org/cpage.aspx?e=11757

The Glass Hammer has been live for just over two months now. We want to thank you for your support so far. We set up this online community as a “go to” place for women in finance to read news and advice to advance their career. Uniquely, the site is somewhere where we can go to share our related life experiences as let’s face it, the financial markets make for a different type of career.

We are all humans in our cubicles at the end of the day. We have lives and interests as well as being kick ass in our day jobs. You aren’t on your own, the women in the skyscraper next door is probably going through the same thing. We quickly found that anyone servicing the financial markets like lawyers and gals in financial IT found a home at The Glass Hammer. It’s good that we are sticking together; men have been doing it for years!

Our team are women who have worked in the securities industry in different forms and we thought that it would be cool to go to just one site to find out what’s going on in the industry. Find out also who is throwing a good networking event, what training is out there to improve skills and finally look for a new job if the time is right. All in one place. We hope you like it too. Let us know if we are missing any worthy event or if there is something you would like us to cover.

We hope that you are enjoying reading the news and advice that we try to provide from a unique perspective – mostly contributed by women in the industry (some men too have offered to write). This for a site for you, and some of it is written by you.

If you would like to write a blog for us or be interviewed by our team of writers please contact me nicki@theglasshammer.com
We can publish you anonymously – we want the good, the bad and the ugly.

Enjoy your turkey if you are in the US and if not, then happy Thursday – the weekend is just one day away.

“You know, you are a pretty good boss, and I like working for this firm and all, but to be honest, this place is a little weak on diversity. So, I’m going to have to give you an F.”

Sounds like the setup for a skit from the Office, but in reality, this is what many of the top law firms in America have been hearing recently, thanks to a survey completed by Stanford Law students. The survey tallied the number of associates and partners at major firms that self-identified as African-American, Hispanic, Asian, female or gay. Then, the students set about handing out “report cards” ranking the firms on how well they have done on incorporating diversity into their firm.

A recent New York Times article by Adam Liptak called “In Students’ Eyes, Look-Alike Lawyers Don’t Make the Grade,” shed some light on the impact of this data on the law firm recruiting process. Surprisingly, the influence of the student survey has been far reaching. As students at elite schools like Harvard, Yale and Stanford wrap up recruiting season around the country, and have a range of law firm job offers to chose from, where a firm stands on the diversity rankings can make the difference between an acceptance and a rejection from a top recruit. This is exactly what the Stanford students had hoped for: to influence the firms into changing their recruiting and retention practices so as to improve diversity.

In New York, Cleary Gottlieb Steen & Hamilton got the highest grade, an A-minus, for reporting that 48.8% of the associates are female, 8.7% are black, 8.3% are Hispanic and 4.5% are openly gay.

Michele Landis Dauber, a law professor at Stanford, served as the adviser for the project, which is called Building a Better Legal Profession. The complete set of rankings are available on the project website. The report covers major firms in New York, Washington, Boston, Chicago and Northern and Southern California. Take a peek to see how your firm stacks up.

On the website, the survey data can be displayed to rank all of the firms in a given market according to the number of female associates and partners. The firms in New York with the highest number of female partners were:

  1. Morrison & Foerster (23.3%)
  2. Jones Day (22.5%)
  3. LeBoef, Lamb (now Dewey & LeBoef) (22.2%)
  4. Davis Polk (22.1%)
  5. Winston & Strawn (22.1%).

The top five firms in New York with the highest number of female associates are:

  1. Carter Ledyard (64.6%)
  2. Hogan & Hartson (63.3%)
  3. Alston & Bird (59.6%)
  4. DLA Piper (58.8%)
  5. Baker & McKenzie (57.1%)

Interestingly, Wachtell Lipton, often considered New York’s top firm, ranked dead last in the gender diversity category and got an F, with 27.3% female associates.

Overall, this survey provides a large volume of useful data, but law students and lawyers should take note that the percentages are closely bunched together, meaning that a firm with 53% female associates gets an A whereas a firm with 45% female associates only ranks a D. Whether this 7% is statistically significant enough to account for the disparity in ranking is not apparent. Furthermore, while the raw data is interesting, it does not tell the whole story. More important than whether a firm has 43% or 45% women is how those women are treated at the firm, and whether they are encouraged to stay and develop their skills through mentoring, women’s networks and progressive part-time and maternity policies.

Thus, while this survey data is very helpful, and can be a great tool in helping to identify which firms need to improve their diversity efforts, it should not be taken as the final word on diversity at law firms. However, it provides a great jumping off point for more research into qualitative aspects of diversity in addition to the quantitative.