Credit Suisse settles with analyst over age discrimination

Credit Suisse Canary Wharf

Credit Suisse have reached a confidential settlement with a 57-year-old analyst who won an age-discrimination claim against the bank earlier this year.

Bloomberg reports that retail analyst Tony Shiret said he couldn’t disclose the terms of the agreement after a hearing at a London employment tribunal last week. 'I’m glad this is over', he said.

Shiret was the oldest member of his team by a decade when he was chosen for redundancy in 2011. Credit Suisse executives saw him as “having no potential, despite his excellent skills and unrivaled contacts, because of his age,” employment judge Jill Brown said in a July ruling.

Shiret earned a salary of about $572,000 before being fired. His managers discussed 'knifing Tony' and said he 'isn’t going to be around forever', according to e-mails cited in the July tribunal ruling.

To access the complete Bloomberg article hit the link below:

Ex-Credit Suisse Analyst Settles Age-Discrimination Case

Nomura to Penalize Staff for Leaking Insider Information in 2010

Register for Financial Markets News Alerts