Financial institutions currently face a range of challenges, with an increased focus on remuneration structures, senior management responsibilities and enforcement action. Many of these challenges arise during the employment relationship and any institution operating within the financial services environment needs to have an understanding of the interplay between employment law and its regulatory duties.
Our team of highly experienced employment lawyers advise on all areas of contentious and non-contentious employment law. Working closely with our wider team of financial services specialists, we understand, and are alive to, the issues that arise in the financial services environment.
We are renowned for our commercial approach. We pride ourselves on working with clients as part of their team and deliver clear, pragmatic and strategic advice. It is important that our clients see each member of our team as someone they can turn to for support and guidance, particularly in delicate and emotive situations.
We have a proven track record of successfully resolving potentially contentious and highly sensitive matters for financial institutions. We help clients to investigate allegations of misconduct, including allegations of discrimination and regulatory breaches, provide support on the disciplinary and dismissal process, and (if appropriate) negotiate settlements. We also advise throughout on communications with the FCA. If a matter cannot be resolved, then we have significant expertise in advising at every stage of the litigation process.
We advise clients on their remuneration structures, including the introduction of bonus caps, clawback and malus provisions. We assist clients with their employment documentation, including employment contracts, service agreements, and employment-related policies and procedures. We also advise on the drafting and enforceability of restrictive covenants to protect clients against individual and team moves.
In addition, we help clients with restructuring projects, outsourcings, business transfers, service provision changes and implementing changes to terms and conditions.
Notable deals / highlights
Advising a provider of investment solutions on a major outsourcing project involving the transfer of a significant number of employees (the majority of whom were approved persons).
Conducting an internal investigation for a leading stockbroker into alleged acts of misconduct of two senior traders, successfully managing the termination of their employment, without further action being taken against the firm by the FCA.
Advising another leading stockbroker on executive severance terms in relation to the removal of members of the Board, including various reporting requirements.
Providing on-going advice and support to a large private equity house on a range of employment issues including the harmonisation of their remuneration plans across various jurisdictions, managing out senior executives, updating employment documentation and conducting employment tribunal litigation.