Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

Court sides with Coutts over expert who blew the whistle

Court sides with Coutts over expert who blew the whistle

A court has sided with Coutts over claims it backed out a job offer made to a compliance expert who blew the whistle about money laundering failings at a rival bank.

Martin Woods alleged the Queen's bank reneged on an offer made for a £650 a day post, with a court in London hearing that former police officer Woods had signed a contract relating to a compliance position offered in July 2011.

He claimed Coutts backed out of its offer after the bank realised he had raised the alarm about money laundering failures at Wachovia Bank, one of its competitors.

However the employment tribunal  threw out Woods' claim on a legal technicality.

The hearing ruled he was not eligible to press ahead with his complaints against Coutts because he had not started work at the bank at the time of the alleged incident, the Times reported.

Coutts said it had 'consistently denied' the claims against it and was pleased with the tribunal's decision to strike them out.

Woods had been seeking undisclosed damages.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
CIO Tapes 2: two warnings and a lot of optimism

CIO Tapes 2: two warnings and a lot of optimism

Our group of leading asset management CIOs see a lot of opportunities – and overseas investors are buying UK too

Play Wealth Manager Retreat 2017: size isn't everything

Wealth Manager Retreat 2017: size isn't everything

We asked our delegates at the Wealth Manager Retreat what they think about the recent wave of consolidation in the industry.

1 Comment Play CIO Tapes - part 3: 'passive funds are anti-capitalist'

CIO Tapes - part 3: 'passive funds are anti-capitalist'

Citywire recently gathered three of the UK's leading fund investment heads to discuss their hopes, fears and the issues that their jobs throw at them daily.

Read More
Your Business: Cover Star Club

Profile: Thomas Miller explains its post-restructure plans

Profile: Thomas Miller explains its post-restructure plans

Thomas Miller Investment’s (TMI) head of wealth Matt Phillips has strong opinions about many things

Wealth Manager on Twitter