NZ Herald
  • Home
  • Latest news
  • Herald NOW
  • Video
  • New Zealand
  • Sport
  • World
  • Business
  • Entertainment
  • Podcasts
  • Quizzes
  • Opinion
  • Lifestyle
  • Travel
  • Viva
  • Weather

Subscriptions

  • Herald Premium
  • Viva Premium
  • The Listener
  • BusinessDesk

Sections

  • Latest news
  • New Zealand
    • All New Zealand
    • Crime
    • Politics
    • Education
    • Open Justice
    • Scam Update
  • Herald NOW
  • On The Up
  • World
    • All World
    • Australia
    • Asia
    • UK
    • United States
    • Middle East
    • Europe
    • Pacific
  • Business
    • All Business
    • MarketsSharesCurrencyCommoditiesStock TakesCrypto
    • Markets with Madison
    • Media Insider
    • Business analysis
    • Personal financeKiwiSaverInterest ratesTaxInvestment
    • EconomyInflationGDPOfficial cash rateEmployment
    • Small business
    • Business reportsMood of the BoardroomProject AucklandSustainable business and financeCapital markets reportAgribusiness reportInfrastructure reportDynamic business
    • Deloitte Top 200 Awards
    • CompaniesAged CareAgribusinessAirlinesBanking and financeConstructionEnergyFreight and logisticsHealthcareManufacturingMedia and MarketingRetailTelecommunicationsTourism
  • Opinion
    • All Opinion
    • Analysis
    • Editorials
    • Business analysis
    • Premium opinion
    • Letters to the editor
  • Politics
  • Sport
    • All Sport
    • OlympicsParalympics
    • RugbySuper RugbyNPCAll BlacksBlack FernsRugby sevensSchool rugby
    • CricketBlack CapsWhite Ferns
    • Racing
    • NetballSilver Ferns
    • LeagueWarriorsNRL
    • FootballWellington PhoenixAuckland FCAll WhitesFootball FernsEnglish Premier League
    • GolfNZ Open
    • MotorsportFormula 1
    • Boxing
    • UFC
    • BasketballNBABreakersTall BlacksTall Ferns
    • Tennis
    • Cycling
    • Athletics
    • SailingAmerica's CupSailGP
    • Rowing
  • Lifestyle
    • All Lifestyle
    • Viva - Food, fashion & beauty
    • Society Insider
    • Royals
    • Sex & relationships
    • Food & drinkRecipesRecipe collectionsRestaurant reviewsRestaurant bookings
    • Health & wellbeing
    • Fashion & beauty
    • Pets & animals
    • The Selection - Shop the trendsShop fashionShop beautyShop entertainmentShop giftsShop home & living
    • Milford's Investing Place
  • Entertainment
    • All Entertainment
    • TV
    • MoviesMovie reviews
    • MusicMusic reviews
    • BooksBook reviews
    • Culture
    • ReviewsBook reviewsMovie reviewsMusic reviewsRestaurant reviews
  • Travel
    • All Travel
    • News
    • New ZealandNorthlandAucklandWellingtonCanterburyOtago / QueenstownNelson-TasmanBest NZ beaches
    • International travelAustraliaPacific IslandsEuropeUKUSAAfricaAsia
    • Rail holidays
    • Cruise holidays
    • Ski holidays
    • Luxury travel
    • Adventure travel
  • Kāhu Māori news
  • Environment
    • All Environment
    • Our Green Future
  • Talanoa Pacific news
  • Property
    • All Property
    • Property Insider
    • Interest rates tracker
    • Residential property listings
    • Commercial property listings
  • Health
  • Technology
    • All Technology
    • AI
    • Social media
  • Rural
    • All Rural
    • Dairy farming
    • Sheep & beef farming
    • Horticulture
    • Animal health
    • Rural business
    • Rural life
    • Rural technology
    • Opinion
    • Audio & podcasts
  • Weather forecasts
    • All Weather forecasts
    • Kaitaia
    • Whangārei
    • Dargaville
    • Auckland
    • Thames
    • Tauranga
    • Hamilton
    • Whakatāne
    • Rotorua
    • Tokoroa
    • Te Kuiti
    • Taumaranui
    • Taupō
    • Gisborne
    • New Plymouth
    • Napier
    • Hastings
    • Dannevirke
    • Whanganui
    • Palmerston North
    • Levin
    • Paraparaumu
    • Masterton
    • Wellington
    • Motueka
    • Nelson
    • Blenheim
    • Westport
    • Reefton
    • Kaikōura
    • Greymouth
    • Hokitika
    • Christchurch
    • Ashburton
    • Timaru
    • Wānaka
    • Oamaru
    • Queenstown
    • Dunedin
    • Gore
    • Invercargill
  • Meet the journalists
  • Promotions & competitions
  • OneRoof property listings
  • Driven car news

Puzzles & Quizzes

  • Puzzles
    • All Puzzles
    • Sudoku
    • Code Cracker
    • Crosswords
    • Cryptic crossword
    • Wordsearch
  • Quizzes
    • All Quizzes
    • Morning quiz
    • Afternoon quiz
    • Sports quiz

Regions

  • Northland
    • All Northland
    • Far North
    • Kaitaia
    • Kerikeri
    • Kaikohe
    • Bay of Islands
    • Whangarei
    • Dargaville
    • Kaipara
    • Mangawhai
  • Auckland
  • Waikato
    • All Waikato
    • Hamilton
    • Coromandel & Hauraki
    • Matamata & Piako
    • Cambridge
    • Te Awamutu
    • Tokoroa & South Waikato
    • Taupō & Tūrangi
  • Bay of Plenty
    • All Bay of Plenty
    • Katikati
    • Tauranga
    • Mount Maunganui
    • Pāpāmoa
    • Te Puke
    • Whakatāne
  • Rotorua
  • Hawke's Bay
    • All Hawke's Bay
    • Napier
    • Hastings
    • Havelock North
    • Central Hawke's Bay
    • Wairoa
  • Taranaki
    • All Taranaki
    • Stratford
    • New Plymouth
    • Hāwera
  • Manawatū - Whanganui
    • All Manawatū - Whanganui
    • Whanganui
    • Palmerston North
    • Manawatū
    • Tararua
    • Horowhenua
  • Wellington
    • All Wellington
    • Kapiti
    • Wairarapa
    • Upper Hutt
    • Lower Hutt
  • Nelson & Tasman
    • All Nelson & Tasman
    • Motueka
    • Nelson
    • Tasman
  • Marlborough
  • West Coast
  • Canterbury
    • All Canterbury
    • Kaikōura
    • Christchurch
    • Ashburton
    • Timaru
  • Otago
    • All Otago
    • Oamaru
    • Dunedin
    • Balclutha
    • Alexandra
    • Queenstown
    • Wanaka
  • Southland
    • All Southland
    • Invercargill
    • Gore
    • Stewart Island
  • Gisborne

Media

  • Video
    • All Video
    • NZ news video
    • Herald NOW
    • Business news video
    • Politics news video
    • Sport video
    • World news video
    • Lifestyle video
    • Entertainment video
    • Travel video
    • Markets with Madison
    • Kea Kids news
  • Podcasts
    • All Podcasts
    • The Front Page
    • On the Tiles
    • Ask me Anything
    • The Little Things
  • Cartoons
  • Photo galleries
  • Today's Paper - E-editions
  • Photo sales
  • Classifieds

NZME Network

  • Advertise with NZME
  • OneRoof
  • Driven Car Guide
  • BusinessDesk
  • Newstalk ZB
  • Sunlive
  • ZM
  • The Hits
  • Coast
  • Radio Hauraki
  • The Alternative Commentary Collective
  • Gold
  • Flava
  • iHeart Radio
  • Hokonui
  • Radio Wanaka
  • iHeartCountry New Zealand
  • Restaurant Hub
  • NZME Events

SubscribeSign In
Advertisement
Advertise with NZME.
Home / Business

'Not now Stacey': Banker's $7.7 million sex bias win

By Marnie O’Neill
news.com.au·
13 Sep, 2019 05:42 AM4 mins to read

Subscribe to listen

Access to Herald Premium articles require a Premium subscription. Subscribe now to listen.
Already a subscriber?  Sign in here

Listening to articles is free for open-access content—explore other articles or learn more about text-to-speech.
‌
Save

    Share this article

In the wake of the Employment Relations Amendment Bill passing into law, sweeping changes have been made to workers and employers rights.

A female bank executive has been awarded £4 million ($7.7m) in compensation after her boss repeatedly fobbed her off with the words: "Not now Stacey".

British broker Stacey Macken, 48, said she was routinely belittled by her male superiors, subjected to sexist pranks and paid hundreds and thousand less than her male peers.

Her victory in Central London Employment Tribunal this week marked the end of a long battle against French bank BNP Paribas.

Macken's line boss, Denis Pihan, was singled out in the judgment for the infuriating and humiliating tactic he used to avoid interaction with her.

Stacey Macken was awarded more than $7 million in compensation after winning her sex discrimination claim against BNP Paribas. Photo / Supplied
Stacey Macken was awarded more than $7 million in compensation after winning her sex discrimination claim against BNP Paribas. Photo / Supplied
Advertisement
Advertise with NZME.
Advertisement
Advertise with NZME.

Pihan would say: "Not now, Stacey" whenever Macken, a former vice president of Deutsche Bank with 28 years of industry experience, tried to talk to him. He did it so often it became a running joke with her colleagues, who began to make sarcastic comments about it.

Another boss, Matthew Pinnock, returned to the office after an evening of heavy drinking with male co-workers and pulled a stunt which left Macken "visibly upset".

"In October 2013 I was shocked to arrive at work to find a witch's hat on my desk and wondered what I had done to deserve this," she said in her statement of claim.

"I am aware Matt and a group of male colleagues who had been out drinking the night before had put it there. Matt's PA witnessed this. Matt has since denied this."

Advertisement
Advertise with NZME.

Pinnock's personal assistant, Georgina Chapman, confirmed the incident took place.

"A large Halloween-style black witch's hat was left on Stacey Macken's desk after some of the Prime Brokerage team, including Matthew Pinnock, had gone drinking at the pub towards the end of the day," she told the tribunal.

When Macken arrived for work the next day she was "visibly upset", telling Chapman she felt "really uncomfortable" working with the male colleagues in question, the tribunal heard.

Following that incident, which happened shortly after she joined BNP Paribas, Macken's working conditions continued to deteriorate. She made a series of internal complaints about her treatment, which she said only led to more unfair treatment, before finally taking the bank to the tribunal in March this year.

Discover more

Business

Liquidators estimate $16m shortfall from Stanley-Tallwood collapse

12 Sep 10:27 PM
Business

Luxury Rentals NZ faces liquidation over $1000 debt

13 Sep 12:26 AM
Denis Pihan. Photo / Supplied
Denis Pihan. Photo / Supplied

She was paid £120,000 a year in her role as a London-based broker but later discovered a male recruit with the same job title and responsibilities was being paid a whopping £40,000 more than her.

In another example of unequal pay presented to the tribunal, the male peer was paid more than £167,000 in bonuses compared to the £33,000 she received.

In previous hearings, BNP Paribas tried to justify the discrepancy by claiming it hired Macken as a "junior" and the male colleague was in fact her superior.

Matthew Pinnock put a witch's hat on Stacey Macken's desk after a drunken night out with male co-workers. Photo / Supplied
Matthew Pinnock put a witch's hat on Stacey Macken's desk after a drunken night out with male co-workers. Photo / Supplied

But the tribunal ruled BNP Paribas failed to adequately explain why the male worker received so much more when they both received the same grade in performance reviews, ruling Macken had been victimised and treated unfairly because she was a woman.

"Leaving a witch's hat on a female employees desk, in a predominantly male working environment, was an inherently sexist act that potentially reflects on the nature of (the) working environment for the Claimant and the approach that was taken to women," the judgment said.

The tribunal also condemned Pihan's repeated use of the phrase "not now, Stacey" when talking to her, concluding it was "a demeaning comment that was made so regularly that it was a source of comment by (Macken's) colleagues."

Advertisement
Advertise with NZME.

"We consider that the victimisation of the Claimant for raising complaints of discrimination is an act extending over a period involving the hostility of Pihan and Pinnock to the Claimant raising the complaint and those involved in investigating the Claimant's complaints, shutting them down and failing to properly investigate her core complaints of unequal pay and sex discrimination in bonus payments."

Save

    Share this article

Latest from Business

Premium
Media Insider

David Seymour v John Campbell: Act leader turns camera on broadcaster

22 Jun 10:07 AM
Premium
Opinion

Liam Dann: The upside to this painfully slow economic recovery

22 Jun 07:00 AM
Business

$175k in costs awarded in $10 million Auckland mansion stoush

22 Jun 05:32 AM

Audi offers a sporty spin on city driving with the A3 Sportback and S3 Sportback

sponsored
Advertisement
Advertise with NZME.

Latest from Business

Premium
David Seymour v John Campbell: Act leader turns camera on broadcaster

David Seymour v John Campbell: Act leader turns camera on broadcaster

22 Jun 10:07 AM

Campbell asks if interview is 'weaponised'; Act says it's giving viewers the full picture.

Premium
Liam Dann: The upside to this painfully slow economic recovery

Liam Dann: The upside to this painfully slow economic recovery

22 Jun 07:00 AM
$175k in costs awarded in $10 million Auckland mansion stoush

$175k in costs awarded in $10 million Auckland mansion stoush

22 Jun 05:32 AM
Premium
Property manager fined $3500 for breaching healthy homes standards

Property manager fined $3500 for breaching healthy homes standards

22 Jun 03:00 AM
Gold demand soars amid global turmoil
sponsored

Gold demand soars amid global turmoil

NZ Herald
  • About NZ Herald
  • Meet the journalists
  • Newsletters
  • Classifieds
  • Help & support
  • Contact us
  • House rules
  • Privacy Policy
  • Terms of use
  • Competition terms & conditions
  • Our use of AI
Subscriber Services
  • NZ Herald e-editions
  • Daily puzzles & quizzes
  • Manage your digital subscription
  • Manage your print subscription
  • Subscribe to the NZ Herald newspaper
  • Subscribe to Herald Premium
  • Gift a subscription
  • Subscriber FAQs
  • Subscription terms & conditions
  • Promotions and subscriber benefits
NZME Network
  • The New Zealand Herald
  • The Northland Age
  • The Northern Advocate
  • Waikato Herald
  • Bay of Plenty Times
  • Rotorua Daily Post
  • Hawke's Bay Today
  • Whanganui Chronicle
  • Viva
  • NZ Listener
  • Newstalk ZB
  • BusinessDesk
  • OneRoof
  • Driven Car Guide
  • iHeart Radio
  • Restaurant Hub
NZME
  • About NZME
  • NZME careers
  • Advertise with NZME
  • Digital self-service advertising
  • Book your classified ad
  • Photo sales
  • NZME Events
  • © Copyright 2025 NZME Publishing Limited
TOP