Salesman loses tribunal claim for reinstatement at Nomura

A FORMER Lehman Brothers salesman who claims he was made redundant after blowing the whistle on client abuses failed in his bid to be reinstated yesterday.<br /><br />An employment tribunal in Stratford told Paul Ryb he had not convinced it that he should be reinstated at Nomura. The Japanese bank bought the Lehman Brothers telecoms division at which he claimed the client abuses took place.<br /><br />A source close to Ryb said the news was &ldquo;pretty devastating&rdquo;. Ryb will now have to wait until the end of February next year for a full employment tribunal.<br /><br />But in a statement Ryb said he intends to see the case through to the end.<br /><br />He said: &ldquo;I firmly believe my highly-successful City career has been unjustly put into reverse, and subsequently cut short by Lehman / Nomura managers intent on protecting their own interests.&rdquo;<br /><br />In a statement Nomura said it was &ldquo;pleased&rdquo; with the tribunal&rsquo;s decision: &ldquo;It is a welcome development in this long-running dispute between Ryb and his original employers, Lehman Brothers, and now Nomura.&rdquo;