Banks and financial services firms at risk of employment litigation

The 2015 bank bonus season could lead to an increase in legal disputes

04 Mar 2015

City bosses may see resurgence in legal claims by disgruntled employees disappointed with poor bonuses, according to a specialist employment law firm.

In February the UK state-owned bank RBS reported a £3.5bn loss for 2014, down from a £9bn loss in the previous year. But the bank has said it will pay out bonuses from a pool of £421m, which is some 21 per cent smaller than in 2013.

Jon Gilligan, a partner at GQ Employment Law, explained that tougher EU and Prudential Regulation Authority as well as Financial Conduct Authority regulations on banker pay has made it impossible for banks to offset disappointment with weak bonuses this year by guaranteeing a bigger bonus next year.

"Every year sin...

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