A New York-based employee of CICC is suing the Chinese investment bank for discrimination over political affiliations, or lack thereof, which allegedly resulted in missed promotions and lower pay.
Andrea Bischof, 31, sued CICC in New York yesterday, according to a «Bloomberg» report, claiming she was repeatedly passed for promotion and paid less than Chinese colleagues despite superior performance.
Bischof is a vice president at CICC where she joined in 2015 as a sales and trading associate after being recruited from Bank of America Merrill Lynch. She is currently still working at CICC.
Chinese Communist Party
According to Bischof, party membership was an increasingly important factor for career advancement at CICC in recent years and her ineligibility to join the Chinese Communist Party led to discrimination. Upon raising internal complaints about the issue, she faced further retaliation.
«On Wall Street, being a member of a political party has nothing to do with one’s career progression, unless one works at CICC,» she said in a Manhattan federal court filing.
Bischof is seeking unspecified damages including back pay, future pay and punitive damages.
