Ex-HSBC trader sues over unfair dismissal

Former HSBC foreign-exchange trader Serge Sarramegna sued the bank after he was dismissed amid a global probe into currency rigging, adding to a host of claims that have emerged from the investigation.

Bloomberg News reports that Sarramegna filed the suit in a London employment tribunal claiming unfair dismissal and so-called public interest disclosure, or whistle-blowing, according to court documents.

Sarramegna was suspended from the bank in January 2014 and officially left nine months later, people with knowledge of the situation said at the time.

The case, which has a hearing date next month, is one of several unfair dismissal lawsuits to reach the court in recent weeks after investigations at the world’s biggest banks into foreign-exchange manipulation led to the departure of more than 30 bankers. 

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

Ex-HSBC Currency Trader Sues Bank as Unfair Dismissal Suits Grow

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