Former HSBC exec claims bonus payouts prove discrimination

HSBC Canary Wharf

A former HSBC executive suing the bank for $22.4m said 'extremely disappointing' bonus payments were linked to his race and religion, even if no one ever said 'you are a Turkish Muslim and I don’t like you'.

Bloomberg News reports that Habib Kaya Biber, the former co-head of the bank’s industrials unit, said he was paid a fraction of the $2.5m a year paid to rivals at other lenders.

He received a $428,500 salary in 2012 and a $278,473 bonus, Biber said in a statement submitted to a London employment tribunal Tuesday.

My case 'is based on compensation that we’ve ultimately seen and inferences we’ve drawn from it', the 44-year-old Biber said while giving evidence to the tribunal Tuesday. 'It’s not based on any instance of someone approaching me and saying, you are a Turkish Muslim and I don’t like you'.

'I was certain that my peers had been paid a lot more than me', Biber said in the witness statement. 'I was singled out to be treated differently from other investment banking global sector heads'.

To access the complete Bloomberg News article hit the link below:

Fired HSBC Manager Says Disappointing Bonuses Prove Racism Claim

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