In a recent Frankfurt court hearing, the senior banker accused his former employer of fabricating his job title, “head of loan trading”, due to relocation requirements of key staff post-Brexit.

The banker, hired in April 2021 with a salary of €375,000 (around £321,000) plus bonus, claimed the title was only on paper and to not actively be used, Financial Times reports.

European Central Bank (ECB) directives post-Brexit required international banks to have local staff manage their EU operations, avoiding reliance on decision-makers in London. A panel of judges rejected Morgan Stanley’s argument that the banker was a material risk-taker, citing the lack of clear managerial tasks and competencies.

Morgan Stanley disputed the allegations in court, denying any instructions to withhold the title and emphasising the banker’s use of the title on LinkedIn and at a conference.