Stockbroker fired over tirade of abuse claims bosses ‘ambushed’ him
A STOCKBROKER fired for calling his bosses “f------ incompetents” is suing for £10 million, claiming they “ambushed” him into losing his temper
Gino Palmeri, 53, claims he was wrongly dismissed by Charles Stanley and Co, an investment company, despite “screaming vitriolic abuse” and swearing at his superiors.
His 21-year career at the firm ended after a highly charged face-off with senior managers in 2017, during which they say he hit them with a “barrage of abuse”. But the investment manager says his reaction n was justified, having been incited cited into losing his temper.
London’s High gh Court heard that the stand- off occurred against the background ground of a companywide restructuring, in which h selfemployed managers agers such as he were being transferred to new standardised terms and conditions.
While most of his colleagues had agreed to the terms, he was
“adamant that he h would not agree”, Gavin Mans Mansfield, Charles Stanley’s QC, said.
The incident occ occurred after Mr Palmeri was told it i was “crunch time” and he s should either accept the n new terms or leave Charle Charles Stanley. Mr Mansfield said: “At a meeting w with Charles Stanley m managers that morning morning, he lost all s embla emblance of selfcontrol o or professionali sm, descending into vitriolic abuse and disparagement such as amounted to a repudiatory breach of contract.”
Mr Palmeri had harangued senior management in a “barrage of abuse” laced with expletives, said the barrister, branding the management team “devious, deceitful and dishonest” as well as stating that he did not want to deal with “f------ incompetents”.
He added that Charles Stanley was “not prepared to tolerate such conduct”.
But Mr Palmeri’s QC said his behaviour was not grounds for sacking in the context of him being presented with
“vastly inferior” new financial terms which would have left him up to 17 per cent worse off year by year.
Amid a “predetermined plan” to incite him to lose his temper, the firmhad “jumped on” Mr Palmeri’s outburst, he added, using it as an “opportunistic excuse” to justify sacking him.
“He was very upset at the ultimatum, and the peremptory and dogmatic way it was put to him, but he was prepared after some volatile exchanges to sign up to the new terms,” he said.
“Mr Palmeri says that the way he reacted at the meeting on April 21 was because he was ambushed and given an ultimatum for immediate response that affected the livelihood he had built up for himself and his team and their families over a 20-year period at Charles Stanley.”
Mr Palmeri is suing Charles Stanley and Co for wrongful termination of his self- employed brokers’ agreement, alleging the firm had no right to force him out without giving three months’ notice. He also claims they breached the contract between them by seeking to retain his clients after his departure.
Charles Stanley vigorously disputes the claims – insisting the broker’s case is “without foundation”.