Golden girls at IMC

Apart from a few rare exceptions, the desks of the derivative trading firms are occupied by an all-male workforce. In the good old trading days in the pit, at the turn of the last century, some female traders did exist, though – and they used to be excellent traders as well.
Caught another example of an excellent female trader working for IMC. Haven’t got a clue what she actually did, but the 39 year old former JPMorgan relationship manager surely negotiated an inspiring reward package when she joined the company. The new “commercial director advisor of the board” received the following package:

* monthly salary of EUR 11.757
* sign on bonus : EUR 400.000
* guaranteed end of year bonus: EUR 400.000

Sounds reasonable competitive. After excessive use of the company credit card, IMC sacked her within half a year. Painful, especially for IMC as the top-notch trader arranged a gold-plated EUR 600.000 severance package. That’s even more than she initially asked for in the legal procedures. The magazine for lawyers didn’t tell whether the severance package mend a farewell to the end-of-year bonus. Also remains unknown wether Wiet Pot paved the way for her entry, fired her or perhaps a combination of both (“a scratch trade“). Anyway, let’s hope the 21 fired traders in the beginning of 2009 received similar golden parachutes..