Banker sues SocGen, claims he was "too successful"
LONDON, March 17 |
LONDON, March 17 (Reuters) - A former banker is suing his old employer, French bank Societe Generale (SOGN.PA), claiming he was dismissed for being "too successful".
Raphael Geys, who was a managing director of European fixed income sales for SocGen, said in documents for his case at London's High Court that he was summarily dismissed without cause in November 2007, the Press Association reported.
"He was dismissed for being too successful in that role because the provisions in his contract were considered by the bank to be too generous," the papers said.
The papers claim that during his three years at the bank he was responsible for more than doubling the gross revenue of his division to 440 million euros from 205 million.
SocGen offered Geys 7.9 million euros ($10.9 million) when he left. The Financial Times said he is suing SocGen for more than 12.5 million euros.
Geys finished giving his evidence on Wednesday. The documents say the bank claims he is not entitled to any "termination payment" because he has taken legal action.
SocGen told Reuters it was "vigorously defending the claims" but declined to comment further while legal proceedings were ongoing. ($1=.7252 Euro) (Reporting by Steve Slater; Editing by Louise Heavens)
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