Libor Trader Hayes Switches Lawyers Ahead of U.K. Plea Hearing

Tom Hayes, the former UBS AG and Citigroup Inc. trader who became the first individual to be charged in the U.K. over the rigging of interest-rate benchmarks, switched lawyers ahead of a plea hearing.

Hayes hired U.K. law firm Garstangs Burrows Bussin in place of Fulcrum Chambers to advise him as he approaches the Oct. 21 hearing, Lydia Jonson, his former lawyer at Fulcrum Chambers in London, said in an e-mailed statement.

Hayes is charged with conspiring with employees of JPMorgan Chase & Co., Royal Bank of Scotland Group Plc, HSBC Holdings Plc, Rabobank Groep and Deutsche Bank AG, as well as Tullett Prebon Plc, ICAP Plc and RP Martin Holdings Ltd., over a four-year period to manipulate yen Libor rates.

He is scheduled to enter a plea at a court hearing this month in London. Two former RP Martin brokers also charged with manipulation of the London interbank offered rate will also appear at the hearing.

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