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JPMorgan Ordered to Give $600,000 Job to Trader It Fired

  • U.S. bank loses fight to avoid taking former trader back
  • Judge’s order comes after ex-trader won unfair dismissal case
    
Photographer: Peter Foley/Bloomberg
Updated on

JPMorgan Chase & Co. was ordered by a London judge to give a trader that it fired during a market spoofing probe a near $600,000 job at the investment bank.

The bank must rehire Bradley Jones, a cash equities trader, who won his unfair dismissal case earlier this year. Jones successfully argued that he was only fired because the bank wanted to show it was taking a tougher line on a spoofing scandal that cost it close to $1 billion in penalties and asked for reinstatement into the same or a similar role.