BNP Paribas exec wins payout, UBS said investigating second assault claim

Magnifying Glass

A BNP Paribas executive who was among a dozen the bank was forced to remove as part of a 2014 settlement for violating U.S. sanctions won $999,000 even though Paris judges chastised him for his “inappropriate behavior.”

Bloomberg News reports that the court of appeals ordered the bank to pay $999,000 to Dominique Remy, former head of structured finance for BNP’s corporate and investment bank, saying he was unfairly dismissed in April 2014.

The court said BNP failed to act against Remy in due time despite being aware for years that he and his team were violating U.S. embargoes.

BNP Exec Fired Amid $9 Billion U.S. Sanctions Wins $999,000

In the meantime, Reuters reports that UBS is investigating a second accusation of sexual assault made by a former junior trader who said the bank had failed to deal appropriately with a previous, separate assault allegation, two sources told the news agency.

UBS began a review in July into how it handled the former employee’s initial allegation that she was sexually assaulted in September 2017 by a senior colleague, the sources, who have direct knowledge of the matter, said.

UBS investigates second sexual assault claim by ex junior trader - sources



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