Bank of America found to have fired banker to avoid bonus payout

Departure

Manager said determined to fire banker despite performance.

Bloomberg News reports that Bank of America maliciously fired a distressed-debt banker to deprive her of a bonus, a Hong Kong judge ruled, awarding Sunny Tadjudin $500,000 after a seven-year legal battle.

Tadjudin’s manager, John Liptak, was determined to fire her despite her performance in an improvement plan, and his malice can be attributed to the bank, High Court Judge Anthony To said in a 141-page ruling issued Wednesday. Still, Tadjudin will receive only a fraction of the amount she requested.

Tadjudin, 51, who worked for the bank’s Asian distressed-debt trading group, had sought bonuses totaling $3.7 million after being fired in 2007 following what she said were irrational and arbitrary performance ratings. To ruled against her claims for higher 2005 and 2006 bonuses than she received.

Hit the link below to access the complete Bloomberg article:

BofA Fired Hong Kong Banker to Avoid Paying Bonus, Judge Rules

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