UBS hires Freshfields to help with misconduct procedure investigation after rape allegation
UBS has hired magic circle law firm Freshfields to carry out a review of its misconduct procedures after a young female trainee alleged a senior colleague raped her.
In a statement, UBS said it “has decided to conduct a review, as we regularly do after significant cases”.
UBS had not instigated a disciplinary procedure against the alleged perpetrator at the time of his departure.
The alleged perpetrator left the bank earlier this year. He had been suspended around five months before he left, according to Bloomberg.
The incident is alleged to have occurred in September last year. The alleged victim has also since left the bank.
The UBS statement added: “The bank’s internal expert team will conduct this review. Additionally, UBS has appointed an external law firm, Freshfields, to provide an independent assessment from an outside party and draw from broader industry insights.”
The Swiss bank had previously said it has “strong policies and procedures in place” to handle complaints of sexual misconduct and harassment.
The bank said it was limited in what it could discuss publicly because of employee confidentiality.
Financial News previously reported that the sexual assault claim has been reported to the Metropolitan Police.
A spokesperson from Freshfields Bruckhaus Deringer declined to comment.