HSBC’s ex-global head of currencies and commodities is suing its former chief executive and three senior managers as part of an unfair dismissal claim.
Frederic Boillereau, who left the bank in 2018, is bringing a whistleblowing case against HSBC next week, according to Bloomberg reports.
It is thought that Boillereau’s departure came as a result of changes to a number of the bank’s business lines.
The ex-banker who worked for HSBC for nearly twenty years, is accusing the former chief executive John Flint as well as Samir Assaf and Thibaut de Roux. HSBC’s chief legal officer, Stuart Levey, was also named in court records, said Bloomberg.
Flint stepped down as chief executive last August after just 18 months at the helm. Chairman Mark Tucker is said to have disagreed with Flint on how fast the bank should have met profit targets.
Flint’s departure was quickly followed by 5,000 job cuts as the bank chased savings.
De Roux left HSBC in September 2018 following allegations of sexual harassment made by a junior female employee, a person familiar with the matter said at the time.
It was reported in November that Assaf will leave his role as head of the investment banking division to become chairman of corporate and institutional banking.
An HSBC spokesperson declined to comment.