Investment Banking

RBC ordered to pay £1.2m to London whistleblower

Former FX trader sued the Canadian bank for £13m, claiming he had been fired in 2016 after raising concerns about a box-ticking compliance culture

RBC ordered to pay £1.2m to London whistleblower
Photo: Getty Images

Royal Bank of Canada has been ordered to pay more than £1m in compensation to a former employee who lost his job after blowing the whistle on compliance failings at the Toronto-based bank’s London operation.

John Banerjee won his unfair dismissal case against RBC in July 2018 in what was a rare ruling in favour of a City whistleblower. Now, according to documents seen by Financial News, UK employment judge Mr J Tayler has told the bank to pay Banerjee around £1.2m to cover lost earnings.

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