Mark Clark has become the second former Barclays FX trader
to lose a claim for unfair dismissal in a UK employment tribunal.
According to a report by Bloomberg
News Clark’s claim was dismissed by Judge George Foxwell at the East London
During the trial, Clark claimed he was “thrown to the
wolves” and fired, whilst senior managers were allowed to retire with
reputation intact. According to Bloomberg,
Judge Foxwell said in delivering the judgement, “I accept that the decision makers believed that
the claimant had acted contrary to the bank’s clients’ interests by disclosing
net orders in advance of a fix. I am satisfied by the bank’s evidence that
conduct was the principle reason for dismissal in this case and not mere
window-dressing to satisfy external observers and regulators.”
September, Clark’s immediate boss, Chris Ashton, lost
his own case against the bank, while a third trader, Jack Murray is still
awaiting a decision.
the first bank to win two cases amongst the raft of claims brought by former FX
traders – most of whom have so far been successful.