The Final Blow: Promotion Denied, Then Fired
By 2022, Burnell sought to climb to managing director, but said she was passed over in favor of three younger, less experienced men. She and another female colleague were left behind, which she alleged was emblematic of systemic gender and age bias within the firm.
Her complaint recounted a pivotal moment: after voicing concerns to one of the managing partners, she was told she was “not helping herself” by complaining. Just months later, in January 2023, she was terminated under the guise of a company restructuring. Yet, Burnell claimed her duties were handed to a male executive, undermining the firm’s justification and pointing to retaliation.
Confidential Resolution, Lingering Questions
Though the exact terms of the settlement remain sealed, Burnell’s claims stirred conversations around equal pay, retaliation, and equity in finance—a sector long criticized for its exclusionary practices. Neither Astatine Capital nor its legal team provided comments on the resolution, and Burnell’s attorneys at Wigdor LLP also declined to discuss the outcome.
The firm was represented by a trio of attorneys from Jackson Lewis PC: Allison P. Dearington, Jessica L. Chamberlin, and Danielle G. Sturgeon.
The lawsuit’s closure does not erase the uncomfortable questions raised: In an industry flush with capital, are equal opportunity and compensation still luxuries rather than guarantees?
As more women step forward challenging old systems in elite financial circles, cases like Burnell’s are drawing public attention—and scrutiny—far beyond the courtroom.
