Bonus Watch ’15: Ex-Barclays Swaps Traders - Dealbreaker

Bonus Watch ’15: Ex-Barclays Swaps Traders

Have 7 figures coming their way.

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.

Former Barclays Swaps Trader Wins Millions in Back Pay [WSJ]