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City trader takes legal action over bonus

City trader takes legal action over bonus

A city trader has taken legal action against his employers, alleging he has been short-changed over his bonus.

According to a report in the Financial Times, Alexandre Mouradian is suing Tradition Securities & Futures, claiming it failed to give him money to which he was entitled.

The worker had been employed by the company since 1997 and managed a team of seven employees and one consultant at the time of his claim.

He says that he was the sole arbiter of how the pool of bonus money accrued by the team was divided.

Mr Mouradian is seeking £92,571, which he claims was improperly deducted from the pool prior to any bonuses being paid out.

Tradition Securities & Futures is disputing the case and argues that it should be dealt with in a county or high court, as opposed to an employment tribunal.

The legal action comes at a time when City bonuses are under close scrutiny, with some commentators suggesting they may have played a part in irresponsible behaviour of banks in recent times.

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