Two former Forex traders will sue their former employers this month
Ex-Barclays, Citi FX traders sue for unfair dismissal in London
Two former foreign exchange traders will this month sue their former employers Barclays and Citigroup for unfair dismissal at a London court.
Former Barclays FX trader Jack Murray is suing the bank and is scheduled to appear at the East London employment tribunal on January 28, according to court filings released on Wednesday.
Carly McWilliams, a former FX trader at Citigroup in London, is scheduled to appear at the same court on January 25-28 with her claim against the US bank.
McWilliams is one of several former London-based FX traders suing Citigroup and gave evidence for former trader Perry Stimpson, who won a claim for unfair dismissal against Citigroup in November.
Murray worked at Barclays from December 2010 until May 2015, when he became inactive, according to details on the Financial Conduct Authority register. The Financial Times previously reported Murray was suspended by Barclays in November 2013 and fired last year after internal investigations into alleged rigging of FX markets.
Both Barclays and Citigroup have been fined by US and UK authorities for failing to stop their traders manipulating FX rates.
Citigroup referred to comments by its CEO Michael Corbat, who said after its settlements with authorities that the bahaviour of staff had been “an embarrassment to our firm”. It declined to comment further. Barclays declined to comment.
Source: Reuters – Ex-Barclays, Citi FX traders sue for unfair dismissal in London
