Oh, happy day!
Mayank Chamadia technically resigned from Barclays in 2013, which means he should have forfeited a whole lot of bonuses, according to the bank. But, technically, Barclays sort of made him quit by lumping him in with all swaps traders as a lying, manipulating son-of-a-bitch. Which he apparently wasn’t, so: $9 million!
Mayank Chamadia, who joined Barclays in 2004, was placed on administrative leave from his derivatives-trading job in June 2013 because, he was told, his group was part of an industry-wide investigation into alleged manipulations of interest rate swaps, according to his lawyer, Jonathan Sack….
Last week, a Financial Industry Regulatory Authority arbitration panel awarded Mr. Chamadia $3.7 million in deferred compensation for 2010 to 2012 that had vested by March 2014, plus interest, according to the award posted on Finra’s website on Friday.