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Jan 5, 2010

Italian sues StanChart Bank

By Selina Lum

A SENIOR bank executive reported to the Standard Chartered Bank here on Dec 1, 2008 to start a new job - but resigned the same day after falling out with his employer over his employment contract. Mr Fermin Aldabe, 43, an Italian, is now suing the bank for wrongful dismissal, claiming that the bank had changed the terms of his employment contract after he arrived in Singapore. He also claims that as a result, he lost the opportunity to be employed by another bank. He is seeking $540,800 from the bank, including payment of salary, cost of shipping his belongings to Singapore and economic loss. The trial started in the High Court on Monday and is scheduled for a five-day hearing. Mr Aldabe is representing himself in the trial and took the stand on Monday. He signed an employment agreement with the bank on Nov 10, 2008, to head its complex product risk management, foreign exchange and commodities unit. The contract stated that he was to be paid $291,000 a year and start work on Nov 17, 2008.

In his lawsuit, Mr Aldabe said a bank executive told him in a phone conversation on Nov 13 not to turn up for work before Dec 1 because more time was needed to set up the systems for him. These included his e-mail account, access card, workstation and office supplies. On the morning of Dec 1, 2008, he reported for work. Four hours later, the bank told him that it would pay him starting from Dec 1, and not from Nov 17. Mr Aldabe then wrote a resignation letter on the spot, giving 30 days' notice. Security was called to escort him off the premises. In the meantime, the bank issued him a letter withdrawing its offer of employment.

 

[no_faith]

based on the article abv, watz the hooha?

altho contract stated commencing work on 17 nov but he did not start on 17 nov instead of 1 dec. this can discuss mah instead quit on the spot?

furthermore, 291k per year, wat more he wan??!!?? if he can earn 291k per year in his homeland, will he be coming to sin?

 

[littlefish]

based on the article abv, watz the hooha?

altho contract stated commencing work on 17 nov but he did not start on 17 nov instead of 1 dec. this can discuss mah instead quit on the spot?

furthermore, 291k per year, wat more he wan??!!?? if he can earn 291k per year in his homeland, will he be coming to sin?

It really depends. If it was the bank that insisted on him joining at short notice on Nov 17 (he may be reluctant as he may need to incur costs or have some other reasons) and then unilaterally decided that he should join later and that it will only pay him starting on Dec 1, would you have faith in such an employer? Note that an agreement was already signed and the bank should have stood by it or at least provide agreeable compensation for changing the terms of the contract.

If this is really the case, I applaud him for having the backbone to resign on the same day. The only doubt I have is whether the bank made it clear to him that he will only be paid starting from Dec 1 when they changed the terms of the agreement. If they did, did he also negotiate for some form of compensation first before turning up? If the bank did made it clear to him and he did not raise the matter with the bank before turning up, then he comes across as a bit of an opportunist.