Omar Alami loses €1.7 million unfair-dismissal payout on appeal
Updated
Updated · Bloomberg · May 5
Omar Alami loses €1.7 million unfair-dismissal payout on appeal
2 articles · Updated · Bloomberg · May 5
The Paris Court of Appeal overturned an earlier ruling and backed BNP Paribas's dismissal of its former equity derivatives sales head for Switzerland, Belgium and Luxembourg.
Judges relied on testimony from staff who accused Alami of bullying subordinates on the trading floor, reversing a decision that had found he was wrongly dismissed for gross misconduct.
The case ends Alami's bid to keep the €1.7 million, or about $2 million, award after his firing from the French bank.
A banker's €1.7M award was reversed. Is France's pro-employee legal shield for workers starting to crack?
With new conduct rules looming, is firing individuals enough to fix the finance industry's deep-rooted toxic culture?