Ex-HSBC Trader Loses €1.4 Million Lawsuit Over Broker Fee Alert
- Paris labor tribunal dismisses pay discrimination claim
- Judges say HSBC ‘duly took into consideration’ fees warning
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A former HSBC Holdings Plc trader who alleged the bank turned against him after he blew the whistle about potentially exorbitant fees paid to brokerages lost his claim for €1.4 million ($1.4 million) at a Paris employment tribunal.
Yoram Loeb, who managed a team focusing on exotic indexes, had claimed 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.