Citigroup Inc. settled an employment suit with an ex-trader after judges ruled he was unfairly dismissed by the bank over claims he was scapegoated for the lender’s decade-long regulatory failures in executing stock trades for clients in Asia.
Ian Weir, an ex-sales trader for Asia Pacific markets based in London, agreed to settle the case before a London tribunal hearing to decide what the bank would need to do to compensate for the unfair dismissal.
The details of the settlement were not disclosed. Employment judges last year ruled that Weir was unfairly and wrongfully dismissed