Ex-HSBC Trader Seeks €1.4 Million Over Broker-Fees Warning
- Loeb made a report on brokerages overcharging HSBC colleagues
- Bank says it took report seriously, notified UK watchdogs
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A former HSBC Holdings Plc trader is demanding a €1.4 million ($1.5 million) payout from the lender in France, alleging it suddenly turned against him when he warned top bosses about a potential scandal over exorbitant brokerage fees.
Yoram Loeb, who managed a team focusing on exotic indexes, claims his career development at HSBC in Paris stalled after he took his concerns over “very large irregularities” in the levies to senior management in London.