Former Royal Bank of Scotland FX trader Ian
Drysdale who has sued the bank for unfair dismissal has won his case, but has
failed to win any financial compensation.
In the judgement, Judge James Tayler found
that there had been flaws in the process followed by RBS but he did not agree
with Drysdale’s claim that his dismissal was “dishonestly contrived”.
Judge Tayler noted, that Drysdale – who allegedly participated in
the notorious “Cartel” Bloomberg chatroom – was behaving in a way “he knew was
This being the case,
the judge further observed, “It is not just and equitable that he receive
The judgement is the
second handed down by a UK employment tribunal – in November former Citi trader
Perry Stimpson won
an unfair dismissal case, however the judge in that case has yet to decide
any financial compensation.
Profit & Loss also understands that Paul Carlier, who sued
Lloyds for unfair dismissal, has also had a preliminary ruling in his favour.
This week has seen the
start of the latest case – that of Carly McWilliams, who is suing Citi for
unfair dismissal. At the same time, a tribunal is due to hear the claim brought
by Jack Murray a former Barclays FX trader’s that he too was unfairly
Colin_lambert@profit-loss.com Twitter @lamboPnL