Mother wins 'sexism in City' payout

A successful female executive, who was denied shares worth £1.5m after taking maternity leave, said yesterday that she had reached an out-of-court settlement with her former employer.

Jane Hayes said she had struck a blow for women wanting to combine motherhood with a career. The 39-year-old former senior insurance underwriter, from Marden, Kent, lost a "sexism in the City" employment tribunal three years ago when she claimed she was passed over for performance-related share options.

On appeal, she won the right to have the case reheard and yesterday, before a new tribunal was convened, she said she had reached agreement with the company.

Ms Hayes, who worked for Charman Underwriting Agencies, which has since been taken over by ACE of Bermuda, said she could not divulge the size of the settlement.

She told the 1999 tribunal she was "robbed" because her male colleagues received £4m in shares while she got £2.5m.