Banker's work-related death sees state payout


A Paris appeals court ruled that the suicide of a banker at HSBC’s French unit nearly a decade ago was “work-related” and triggered by a negative review during his annual evaluation.

Bloomberg News reports that the decision means that the daughter of Remy Thabard, a managing director at the unit, is entitled to more than $1.1m in government compensation, plus additional payments until she turns 20. While the bank wasn’t a defendant in the case, it may make it easier for the family to sue HSBC for gross negligence in the future, according to their lawyer, Jamila El Berry.

The suicide stemmed from Thabard’s December 17, 2007, evaluation, which was given without any warnings that would have allowed the 45-year-old to prepare for the discussion, the court said. “It wasn’t preceded by requests for a meeting or messages that would have enabled him to discuss problems in a critical way with a view to improving his performance,” the appeals court said in a ruling dated October 27 and released to the family last week.

Thabard killed himself a few days following the review by jumping out of the window of his apartment in Paris’ 16th arrondissement shortly after having abruptly left his office mid-morning.

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

Banker’s ‘Work-Related’ Suicide Brings State Payout for Daughter

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