BNP Paribas unfairly fired an executive identified by New York’s banking regulator in an investigation into banned transactions with Iran, Cuba and Sudan, a London employment tribunal judge found in an order settling the case.
Bloomberg News reports that Christopher Marks, former global head of debt capital markets, sued BNP Paribas at a labor court after the bank was ordered to cut ties with him and 12 other employees by New York banking regulator Benjamin Lawsky.
London Judge Simon Auerbach said Wednesday both sides agreed the tribunal should rule that Marks was unfairly dismissed as part of a settlement agreement. The terms of the pact weren’t revealed.
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