Ex-UBS trader seeks $1m over dismissal

A former UBS equities salesman who left in December 2013 and got a new job the following month, says he was wrongfully dismissed and is asking for more than $1m at the Paris employment tribunal.

Bloomberg News reports that Bertrand Tissier, who worked at UBS Securities France for over three years, says his employer sidelined him for no apparent reason months before he left.

UBS denies the allegations and says Tissier left for another job that he had begun interviewing for as early as August, according to the bank’s lawyer, Jean-Michel Segeron.

Bankers routinely turn to specialist labor courts throughout Europe in a bid to recoup lost bonuses and rehabilitate tarnished reputations. Earlier this month, Jerome Kerviel, who was convicted of causing a record trading loss of $5.5bn at Societe Generale, told a Paris employment tribunal he was suing the bank for even more claiming he was unfairly dismissed in 2008.

Meetings with his clients such as AXA SA were organized without his knowledge, Tissier said, and he was inexplicably demoted to salesman two months after having risen to the rank of sales account manager, his lawyer, Ivan Hecht, said.

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

Ex-UBS Salesman Seeks $1 Million in Dispute Over His Departure

Deutsche Boerse to Seek Destiny Outside Europe If LSE Bid Fails

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