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Former Hong Kong senior banker sues UBS for unfair dismissal

A former senior banker at UBS Group AG in Hong Kong, Michel Lee, has filed an unfair dismissal claim in a London employment tribunal against the Swiss lender, Bloomberg News reported, citing court filings.

Lee, who was fired in 2018 following an internal probe into the disclosure of confidential information to a client, claimed his dismissal was "highly unfair" and that UBS determined his alleged misconduct as a breach of employment standards in Hong Kong. He added that he faced disciplinary proceedings in the U.K. after his layoff.

Lee specialized in offering equity derivative products and was an employee of the Swiss group's London branch, according to the newswire.

UBS noted that it is fighting the employment claim, which is at an early stage, on jurisdiction grounds, the report added.