Ex-RBS trader settles claim

A FORMER Royal Bank of Scotland manager who claimed unfair dismissal and racial discrimination over his firing from the bank as part of its investigation into the Libor scandal settled his case out of court yesterday.

Jezri Mohideen, a former trader, only filed the claim against the bank last week. But his lawyer Antony Brown, managing partner at Bivonas, confirmed to City A.M. that his client has settled out of court in a confidential agreement with RBS.

“The parties have settled Dr Mohideen’s claim on terms which are confidential between them and no further comment will be made,” said Sarah Small, spokesperson at RBS.

Mohideen, who joined the bank in 2006, had been in charge of yen products, before being promoted to head of rates trading for Europe and Asia-Pacific in 2010.

RBS suspended and later fired Mohideen in the fallout over the Libor scandal. He has denied that he had pushed colleagues to submit false ratings, and he has not been charged by any of the main prosecuting authorities investigating Libor.