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A trio of Devereux Chambers barristers are battling it out in a £10m racial discrimination employment tribunal over a City banker who claims that he was forced out of this job because he was not German.
A trio of Devereux Chambers barristers is battling it out in a £10m racial discrimination employment tribunal over a City banker who claims that he was forced out of this job because he was not German.
Millionaire Malcolm Perry, the former managing director and global head of fixed income at Dresdner Kleinwort in London, told the tribunal that his superiors wanted to "turn it back into a German bank".
Perry was made redundant after several senior non-German employees left the bank. His redundancy followed rumours that a merger between German insurance giant Allianz and Dresdner's corporate finance and investment arm was on the cards.
The tribunal heard from Perry that his boss Steve Bellotti had been told by Allianz board member Paul Achleitner that the merger was being delayed because they were having difficulties finding a suitable German for the role of chief executive.
Perry said that the restructuring plans left non-Germans nervous about their futures and subsequently led to Bellotti reorganising the capital markets team with employee Bill Fish.
Fish, although British, is "regarded as German" as he spent many years in Germany and speaks the language fluently, Perry told the tribunal.
Perry said that from this point on he was "marginalised" and that he, along with another colleague, were suddenly excluded from certain key deal approvals.
The hearing, which is expected to last three weeks, continues.
Devereux's trio includes Ingrid Simler QC, who is leading for Dresdner, and junior Akash Nawbatt. The duo was instructed by employment partner Katie Clarke from McDermott Will & Emery.
Barrister Bruce Carr is acting for Perry and was instructed by employment partner Daniel Naftalin from Mishcon de Reya.