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Ex-JPMorgan FX Salesman Loses Retrial on Unfair Dismissal

  • Patrice Ktorza lost suit after winning original claim in 2016
  • Ktorza said his dismissal by the bank cost him $2.8 million
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Photographer: Daniel Tepper/Bloomberg
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A former JPMorgan Chase & Co. currency salesman fired for short-filling a client order lost his claim of unfair dismissal, reversing a previous decision in his favor in the latest twist stemming from the global foreign-exchange scandal.

The U.S. bank’s decision to dismiss Patrice Ktorza “was fair, both procedurally and substantively," Judge Catrin Lewis said in a ruling published Friday. The decision overturns Ktorza’s victory in 2016, when a London tribunal criticized the bank’s investigation process leading to the dismissal.