30 December 2009
Banker wins age discrimination claim
A banker has successfully argued that he was the victim of age discrimination and has won compensation.
Achim Beck made his allegations against former employer the Canadian Imperial Bank of Commerce (CIBC), which has more than 41,000 staff members globally.
The 42-year-old was made redundant during the credit crunch last year from his position of head of marketing.
In his role, Mr Beck earned around £900,000 a year.
During a tribunal, it was ruled that the bank could not prove that its decision to dismiss him was not significantly influenced by his age.
His legal team argued that the criteria for a new marketing executive laid out by the firm in an internal memo included one stipulation that the candidate should fit a "younger, entrepreneurial profile".
The CIBC unsuccessfully argued that, in the context, "younger" meant less experienced.
Following the legal decision, the business is considering whether to appeal.
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