The Guardian reports that Russell Johnston, 43, is to take the firm to an industrial tribunal as he claims that he advised his bosses last year that the firm was in danger of misleading the Securities & Futures Authority over its potential liabilities and was subsequently sacked as a result.
Johnston, a bond trader for more than 20 years, is also suing Credit Suisse Securities, a sister company of investment bank Credit Suisse First Boston, for breach of contract and is demanding a six-figure sum in compensation.
He has claimed in court papers that Credit Suisse Securities failed to provide his next employer, Bank of America, with a reference. As a result he was forced to leave them and has not worked as a trader for a year.
The tribunal case is scheduled to take place in September.
Credit Suisse 'Meltdown' Claim
A former trader at Credit Suisse Securities claims he was sacked when he expressed his view to bosses that he thought his firm was facing a possible meltdown.
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