Financial News Online notes that Morgan Stanley is moving to put two big bias cases firmly in the past. A class action settlement of gender discrimination claims against its global wealth management group has been approved. The bank will pay $46 million to plaintiffs, and set up more diversity programs and alter some compensation and promotion policies. Last week, Morgan Stanley agreed to settle a suit that alleged bias against African-American and Latino brokers in northern California. It will pay $16 million. Most banks understand the PR effects of such suits. All have diversity programs in place. But the real issue is individual attitudes at the rank-and-file management (hiring) level. I personally am an optimist.  

For more:
- here's the Financial News Online article

Related articles:
- Ex-Morgan Stanley exec alleges age bias
- Morgan Stanley settles gender bias suit
- The thickest glass ceiling on Wall Street
- More on the gender glass ceiling in financial services