HSBC dodges 5m lawsuit

HSBC has been cleared of dismissing its former head of global equity trading on the grounds of his sexuality.

Peter Lewis claimed the bank dismissed him because he was gay, and attempted to sue for 5m.

However, HSBC argued it dismissed Lewis for gross misconduct after he acted inappropriately towards another man in the bank's gym. The tribunal concluded that Lewis was guilty of the misconduct alleged.

In a statement, the bank said it was committed to equal opportunities and to protecting staff from sexual harassment, whatever the gender and sexual orientation of the victim and harasser.

Despite exonerating HSBC for sacking Lewis on the grounds of his sexuality, the tribunal did find the bank guilty of unlawful discrimination on grounds of sexuality in the way it handled Lewis's claim.

Lewis is pursuing compensation, which may not amount to 5m, but could hit several 100,000.