Ex-Deutsche Bank executive sues for unfair dismissal

Deutsche Bank

A Deutsche Bank executive is suing the bank for unfair dismissal after being placed on leave as the bank battled civil lawsuits over alleged improper selling of derivatives.

Bloomberg News reports that Venky Vishwanathan, a former co-head of Asian corporate finance, has a September. 28 hearing at a London employment court, according to court records. Vishwanathan was placed on leave last year after alleged misselling by a group of employees he helped oversee, people familiar with the situation said at the time. He didn’t immediately respond to a request for comment via his Linkedin page.

Compensation at London’s employment tribunals is capped at about $107,000 unless claimants can prove they were victims of discrimination, or were fired for whistle-blowing. The courts are being frequented by a growing number of traders in recent months seeking to have allegations of misconduct overturned.

A Deutsche Bank spokesman declined to comment. The court documents in London identified the plaintiff as V. Vishwanathan.

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

Ex-Deutsche Bank Executive Sues Bank, Alleging Unfair Firing

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