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Former banker sues EFG Private Bank for unfair dismissal

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Former banker sues EFG Private Bank for unfair dismissal

A senior banker sued EFG Private Bank Ltd. for unfair dismissal, saying he was dismissed for blowing the whistle on weak due diligence process and controls, the Financial Times reported.

Dmitri Rozanov, former managing director for private banking and market coordinator for Russia and Eastern Europe at EFG, took the U.K.-based unit of Swiss-based EFG International AG to an employment tribunal, saying he was let go for making protected disclosures.

However, EFG Private Bank Chairman John Reed, also the bank's designated whistleblower, said in his witness statement that Rozanov did not raise any compliance concerns to him. CEO Anthony Cooke-Yarborough said in his statement, meanwhile, that Rozanov only raised the concerns a month after he was made redundant.

The bank claimed that Rozanov was let go because he was not a "significant rainmaker," had been an unsuccessful manager and had seen his job usurped when a colleague was named head of private banking in July 2017.

The employment tribunal will give its ruling in October, the FT reported.