RBC Managing Director Sues Alleging Bias Against Women, New Moms

Royal Bank of Canada and RBC Capital Markets LLC subjected a managing director to unequal pay, promotional opportunities, and other bias, including a “pregnancy tax” for taking maternity leave, a federal lawsuit in Manhattan charges.

Jennifer Caruso-Jones says the discrimination and retaliation was widespread throughout her 14-year tenure and part of a pattern of bias against women. The bank has “blatantly” pushed out female managing directors, with she and five others being cast aside “in 2023 alone,” Caruso-Jones says.

The pay bias included it taking longer for Caruso-Jones to reach the "$1 million point in total compensation” than male managing ...