A third FX trader fired by Barclays is suing the bank for unfair dismissal, adding to the growing number of similar cases being brought against banks.
Mark Clark, who worked on the bank’s FX trading desk since joining in 2010 from Citi is having his claim heard at the East London Employment Tribunal on September 27 according to court records.
The same tribunal has already heard claims from former Barclays’ traders Jack Murray and Chris Ashton, although a decision has yet to be announced in either.
Citi has launched its fourth annual ‘E for Education’ charity campaign, an initiative the says has raised over $12 million for education focused charities. Under the sceheme, Citi’s FX business will donate $1 for every $1 million of FX transacted electronically between 12 September to 18 November 2016.
All proceeds from the 10 week campaign will go to seven charities, the bank says during the campaign there will also be a series of activities involving local schools including classroom teach-ins by staff, student CV clinics and trading floor visits.
The Bank of Canada (BOC) announced that it is maintaining its target for the overnight rate at 0.5%. The bank rate is correspondingly 0.75% and the deposit rate is 0.25%.
In a release issued today, the BOC says that global growth in the first half of 2016 was slower than it had projected in its July Monetary Policy Report (MPR), although the Bank continues to expect it to strengthen gradually in the second half of this year. The US economy was weaker than expected in the second quarter, notably reflecting a contraction in business and residential investment.
Northern Trust has
established an FX presence in Sydney along with efforts to boost its securities
lending in Australia.
The bank has
established a securities lending trading desk and appointed Kia Oboudiyat, senior sales representative
for foreign exchange.
He was ...
Daiwa Securities Group has joined CLS as its newest settlement member.
Daiwa Securities, one of the largest financial institutions in Japan, joins 65 other financial institutions in becoming a direct participant in CLS’s settlement and risk mitigation system – which settles ...
The second quarter of 2016 saw mixed performances amongst some of the major banks, against a background of increasing uncertainty and challenging trading conditions in currency markets.
Goldman Sachs posted a 20% year-on-year increase in net revenues in what it calls Fixed ...
CLS Group has
announced that Wells Fargo has joined as a settlement member.
Wells Fargo joins 64 other settlement member
banks in becoming a direct participant in CLS’s settlement and risk mitigation
system – which settles approximately $5 trillion a day on ...
Citi is on the wrong end of a third unfair
dismissal trail according to sources familiar with the matter who say that Rob
Hoodless has won his claim against the bank.
In an email statement, Hoodless says, “The East London ...
Informed sources say that National
Australia Bank has a new global head of foreign exchange trading following the
departure of David Jones, who had held the role since mid-2013.
The sources say that Sydney-based Mark
Lawler has been named to ...
Three years after the Monetary Authority of
Singapore (MAS) sanctioned
20 banks and 133 traders over breaches in good conduct regarding the local
interest rate fixing (Sibor), two US investment funds filed a class action lawsuit
in New York on Friday (July 1) ...