An employment tribunal in south London found Canadian Imperial Bank of Commerce (CIBC) was unable to demonstrate its decision to dismiss Achim Beck, a senior derivatives salesman earning £900,000 a year, "was not significantly influenced by his age."
Damages will be determined at a later date but CIBC face a potentially hefty pay-out for breaching UK age discrimination laws.
The employment tribunal found, however, that CIBC had already drafted a plan to recruit new personnel fitting a "younger, entrepreneurial profile" and even began consulting head-hunters before Mr. Beck was dismissed.
Andrew Harrop, head of public policy for Age Concern and Help the Aged, said: "The outcome of this case is not only good news for Achim Beck, but for all those who face age discrimination at work. We hope it will give other people the confidence to challenge employers if they feel they are the victim of ageist attitudes."
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