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Former Barclays FX trader sues for unfair dismissal

LONDON, Sept 14 (IFR) - A former Barclays foreign exchange trader is suing the British bank for unfair dismissal at a London employment tribunal, after several successful claims by traders fired by rival banks.

Mark Clark is claiming he was unfairly dismissed by Barclays and his claim will be heard at the East London employment tribunal on September 27, according to court documents released on Wednesday. The hearing is scheduled to last at least four days.

Clark worked at Barclays from October 2010 until May 2015, according to the Financial Conduct Authority's register of approved persons. His LinkedIn account said he worked at Barclays as a foreign exchange trader until November 2013.

He was one of several FX traders fired after Barclays was fined US$2.4bn by US and British authorities in May 2015, people familiar with the matter said. The bank fired eight employees as part of the settlement, the New York Department of Financial Services (NYDFS) said at the time.

Clark previously worked at Citigroup from July 1987 to October 2010, including as an FX trader for the latter 15 years, his LinkedIn account said.

He did not immediately respond to a request to comment via LinkedIn. Barclays declined to comment.

Several former traders in London have claimed or are claiming they were unfairly dismissed after banks rushed to appease regulators after being fined billions of dollars for rigging FX and interest rates.

Former Barclays FX trader Chris Ashton sued the bank at the same London tribunal in July.

Citigroup last year lost two of the first unfair dismissal claims heard at the tribunal, from former FX traders Carly McWilliams and Perry Stimpson. (Reporting by Steve Slater)

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