LONDON: A former high forex dealer has received an unfair dismis
LONDON: A former high forex dealer has received an unfair dismissal case in opposition to Citigroup Inc, however can not count on to return to his job after the London employment tribunal ruling, the Monetary Occasions reported.
Rohan Ramchandani, the previous European head of Citigroup’s foreign exchange spot market buying and selling desk, alleged in a lawsuit in October that the financial institution unfairly dismissed him with out due course of or warning.
Ramchandani had sued Citigroup for greater than US$112mil, alleging that it made materially false and malicious statements to US prosecutors that led to his trial in New York on overseas exchange-rigging costs.
“I’m happy that the tribunal has not solely discovered that I used to be unfairly dismissed however that Citi acted unreasonably and so has awarded me the utmost uplift for such conduct. The tribunal additionally accepted my real perception that my chats weren’t improper, ” Ramchandani mentioned in an electronic mail despatched to Reuters.
The tribunal compensation can be mechanically capped at round £74,000 (US$96,732.80) – a fraction of the £1mil he earned every year – however the precise quantity was but to be decided. — Bloomberg