Bond trader sues for unpaid bonuses

Bond salesman Simon Hussey is suing his former employer UBS for £5m in unpaid bonuses.

In what is thought to be one of the UK’s biggest pay dispute claims, Hussey says he is due millions in so-called discretionary bonuses.

Hussey, 39, says his former boss Ken Karl reneged on a pledge to pay him discretionary bonuses of between $2m (£1.13m) and $3m a year.

His lawyer, Charles Ferguson, told The Times: “Ken Karl seemed to decide that he didn’t want Simon and so they got rid of him.”

UBS told him his post was redundant, despite the fact that he made the bank tens of millions of pounds in sales every year, Hussey said.

Hussey is also claiming $1.75m which he says is due because UBS put him on enforced gardening leave for six months.

Hussey’s case is expected to go to court in November.

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