Goldman Settles With Whistle-Blower Fired Over Misconduct

(Bloomberg) -- Goldman Sachs Group Inc. reached a settlement with a former London employee who was fired over his behavior toward superiors after he reported a possible compliance breach to U.K. regulators, people with knowledge of the matter said.

The bank dismissed Sherjeel Aman, an executive-director helping implement new European market rules, following "aggressive and insubordinate" conduct at a meeting with the two women to discuss his behavior, according to a March 27 letter outlining the reasons for his ouster.

The disciplinary process started about a week after he approached the Financial Conduct Authority to report that he thought the bank was intentionally misleading the regulator in connection with new market rules, according to the people and documents related to the claim.

The FCA is looking into Aman’s complaint and asked New York-based Goldman Sachs to address the issues, according to another person, who asked not to be identified because the information isn’t public.

Goldman Sachs, Aman and the FCA declined to comment. Aman denied that he misbehaved, but offered to apologize for any offense he may have unintentionally caused, according to the March letter.

This month, the bank agreed to pay Aman about 90,000 pounds ($118,000) in compensation, legal fees and pension contributions, the people with knowledge of the matter said.

Compensation claims for unfair dismissal are capped at 83,600 pounds, unless an employment tribunal finds that the employee was a whistle-blower or the victim of discrimination. The settlement was reached before Aman filed a claim with a London court.

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