According to reports by Reuters citing a filing made by the East London employment tribunal, a former interest rate trader at Citigroup named Marco Arosio is suing the US bank for being fired over whistleblowing.
The filing pointed to claims of unfair dismissal where the trader was exercising his rights under the UK Public Disclosure Act related to whistleblowing, and how he claimed to have suffered this unfair dismissal after being let go by the bank.
Mr. Arosio held senior positions at Citigroup including within the bank’s interest rate trading and structuring division, and was head of global rates structuring. According to a LinkedIn profile matching his name and position, he had held the role of Managing Director at the bank and had obtained an MBA from Standford University earlier in his career nearly 25 years ago.
He was listed with the Financial Conduct Authority (FCA) ) as an approved person until February 5th 2016 – which indicates that his departure form the bank may have occurred several months ago, however the filings are new.
The case is set to be heard from May 10th through to the 13th, according to the East London employment tribunal which handles employment claims for banks based in the financial district in London’s Canary Wharf area. The parties mentioned did not reply to request for comments from the media, and no further details were yet released, as the claim was just filed on Wednesday.
The UK.gov website provides for such claims to be filed online, in addition to using printed forms, yet the service is not free and costs range from £390 to £1200 in total per claim, and as per an excerpt from the website as seen in the table below:
Source: Gov.uk
