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Trader sues over bonus.

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At a time when the City's former high-fliers are patching up their wings and even nostalgic talk of bonuses can curdle a friendly conversation, there is still one master of the universe prepared to fight for what he is owed. Or at least what he believes he is owed.

 

Alexandre Mouradian, a 38-year-old trader with the Paris-based Tradition Securities and Futures, is suing his employers, claiming they shortchanged him over £92,571 of the £1.32m bonus he awarded himself from a bonus pool two years ago.

 

Mouradian, who earns £1.6m as head of the company's exchange-traded options desk, has brought his case to the court of appeal under the Employment Rights Act, which prohibits the unlawful deduction of an employee's wages.

 

Although Mouradian is paid a basic salary of £300,000 to manage a team of seven employees and one consultant in London, his contract stipulates that his desk is allowed to split a bonus pool amounting to 60% of its net billed income twice a year.

 

Mouradian claims he was in charge of deciding how the pooled money was to be shared. For the second half of 2006, the bonus purse contained £1.43m. Two members of his team received payments of £60,000 and £47,000, while another was given £2,000. The remaining desk employees were awarded nothing. However, documents submitted to the court show that Mouradian awarded £1.32m - or 92% of the total bonus pool - to himself.

 

 

 

 

Sell gold buy monkey nuts.

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There's nothing quite like being able to decide how much of a bonus you get yourself. B)

 

Hmm I think I've found my new career. I'd be fucking great at that. :boogie:

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There's nothing quite like being able to decide how much of a bonus you get yourself. B)

 

Hmm I think I've found my new career. I'd be fucking great at that. :boogie:

Parliaments a good one too, they expect you to turn up for a few days a year, mind. ;)

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