According to a High Court writ, Jones alleges that the bank guaranteed him the bonus and refused to pay when it terminated his contract. He is believed to have earned around £780,00 in bonuses in the 18 months that he worked for the bank, but is now seeking legal redress to recover the disputed quarter of a million pounds.
It is thought that Commerzbank will defend the action.
Gareth Price Jones was recruited by Commerzbank from Schroders in April 2000 to build a team of analysts providing research on internet stocks. It wasn't long after he was hired that the internet bubble burst and Commerzbank finally fired him in November last year. He is now suing the bank for a bonus of £250,000.
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