Bank of America trader said fired to avoid paying bonus

Pointing Finger

It's tough at the top.

Bank of America fired a trader who made three-quarters of the profits of its Asian distressed debt trading group to avoid paying the performance bonus she was entitled to, her lawyer said.

Bloomberg reports that Sunny Tadjudin is claiming $3.7m based on the average of 16.6% of her profit contribution she received in bonuses for 2002 to 2004, Graham Harris, her attorney, said on the first day of a trial at the Hong Kong High Court Wednesday.

Tadjudin, fired in August 2007 for failings including poor communication, received lower bonuses than she deserved in 2005 and 2006 due to arbitrary performance reviews and no bonus in 2007 despite generating 76% of the group’s $28.6m in profits in the 30-month period, Harris said. The 50-year-old woman won the right to a trial in 2010 when a lower court’s dismissal of her claim was overturned.

'She was delivering profits,' Harris said. The bank’s 'scandalous and unconscionable conduct,' breached implied terms of her employment contract, he said. 'She was entitled to be paid bonuses which represented her profits.'

To access the complete Bloomberg article hit the link below:

BofA Fired Asia Trader to Avoid Paying Bonus, Lawyer Says 

Deutsche Bank Said Set to Punish Staff Including Cloete on Libor

image: © gabaus

Best place to workThe Best Firm of the Last Decade is...

Register for Financial Markets News Alerts