Feb 22, 2019
Fired Barclays trader wins nearly £1m in compensation
A former top foreign exchange trader at Barclays has won nearly £1m in compensation after a judgment in late January drew a line under a long legal battle with his former employer. The bank refused, prompting a second remedy hearing in January this year, where a judge ruled that Barclays should pay Mr Fotheringhame £947,585. Mr Fotheringhame has now set up a website where he takes aim at his former employer and also the DFS, arguing that it does not have to build a robust case that could stand up in court because it has the "Nuclear threat" of stripping a bank of its licence to operate. "The DFS hardly ever seems to go to court. They can turn up and say, 'here, I've cherry-picked a few communications and built an unreal case, you can either pay the fine or I'll take your banking licence,'" Mr Fotheringhame complained. Mr Fotheringhame said he understands that banks reacted to the FX probes by terminating dozens of staff because "It makes economic sense." Still, he wants to use his case to make such reactions from banks more difficult in the future, while encouraging the DFS to "Think more about employment rights."
Make a complaint about Barclays by viewing their customer service contacts.