Fiona Macdonald

Fiona advises senior executives on their contractual entitlement to bonus and other incentives, and acts for them in litigation if matters are not settled beforehand.

• Acted for the Head of Sales at an asset management firm in relation to bonus and settling at mediation prior to issue at the High Court. Also successfully acted for him in his claim for unfair dismissal, which was settled at the statutory cap.
• Advised an FX trader, who was dismissed and received a zero bonus, in relation to his High Court claim for bonus following an Employment Tribunal finding of unfair dismissal, and achieved settlement.
• Acted for a banker in bonus litigation in the reported case of Takacs v Barclays Services Jersey Ltd, defeating an application by the bank to strike out the claim. Obtained a judgment for Mr Takacs which has widened the parameters of implied contractual terms in the context of discretionary bonus litigation. Achieved settlement.
• Represented a claimant in bonus litigation in the reported case of Framlington v Barnetson, regarding terms promised orally upon joining. This judgment clarifies the scope of the ‘without prejudice’ rule prior to litigation or the threat of it.
• Advised a portfolio manager on joining an asset management firm in relation to negotiation of contractually guaranteed minimum bonus and in due course successfully relying on that at exit.

Fiona advises individuals who are involved in investigations and disciplinary proceedings often in relation to regulatory matters, such as trader misconduct, LIBOR and FX investigations, or sensitive workplace matters such as allegations of harassment, and in relation to employment disputes that may arise.

• Acted for two former FX traders throughout disciplinary procedure and then following dismissal for gross misconduct in successful claims for unfair dismissal.
• Acted for a LIBOR trader and submitter throughout a disciplinary procedure and then following dismissal for gross misconduct in claims for unfair dismissal and discrimination against the bank. Achieved settlement at mediation.
• Acted for an APAC trader in respect of protracted investigation which resulted in a dismissal which was found by the Employment Tribunal to be unfair.
• Acted for a Global Head of Liquidity and Finance in relation to a Commercial Court claim for breach of contract relating to failure to insure, indemnify and train in respect of LIBOR setting.
• Acted for a Sales Director at a securities firm in respect of investigation into alleged sexual harassment as a result of which the allegations were not upheld.  Managed reintegration into team.

Fiona advises on senior executive exits, acting for founders, C-suite executives, LLP members, partners, directors, and shareholders across many sectors including financial services, technology, retail, energy, life sciences, and media, often coordinating tax, regulatory, and corporate advice on complex departures.

• Advised a Finance Director on their exit from a large UK pension firm.
• Advised a CFO from a large US data centre firm.
• Advised a high-profile founder and CEO of a multi-class MGA and Lloyd’s Syndicate on exit, and involving tax and company law colleagues.
• Advised a Global Product Head on their exit from a US bank.
• Advised a Head of Compliance and MLRO on their exit from an AIM listed securities company.

Fiona advises on high-value employment disputes, representing senior professionals in discrimination, with notable success in the reported case of Docker v Rabobank International.

• Acted for a Global Head of Securities Finance in the reported case of Docker v Rabobank International – securing judgment for Mr Docker in both his Employment Tribunal claims for unfair dismissal and unlawful discrimination on grounds of race, and defeating the bank’s subsequent appeals at the EAT and Court of Appeal.
• Acted for a client executive at a major US bank throughout a lengthy grievance process and resignation, and in claims against the bank for constructive unfair dismissal and sex discrimination, successfully negotiating settlement at mediation.
• Acted for a sales executive at a software company in relation to claims for unfair dismissal and disability discrimination in the Employment Tribunal, and achieving settlement.
• Acted for an analyst at an asset management firm in his Employment Tribunal claims which included race and sex discrimination, and achieving settlement.
• Acted for a Desk Head at a large investment management firm on grievance, potential claims for sex and race discrimination, and achieving settlement.

Fiona specialises in advising individuals in the financial services sector, including senior executives, directors, founders, partners, members, employees, and shareholders at banks, asset management firms, investment management firms, pension companies, insurance firms, securities firms, and fintech companies. She has particular expertise in complex High Court and Employment Tribunal litigation, including bonus disputes, breach of contract claims, discrimination, unfair dismissal, whistleblowing, post-termination restraints, disciplinary and grievance issues, redundancy, and harassment.

• Advised a director and employee of an investment management firm in relation to various potential claims by and against him, and then working with insolvency colleague as the firm went into administration.
• Advised a metals trader in relation to his redundancy and in relation to the setting up of his new business. Reviewed and advised on the proposed LLP agreement and other agreements and resolutions required.
• Acted for a reinsurance broker defending litigation by his former employer for breach of contract in respect of post-termination restraints. Co-ordination of defence with two co-defendants.
• Advised a portfolio manager at a global investment management firm in relation to settlement of claims arising from his dismissal for whistleblowing and protecting his bonus awards.
• Advised 20 employees of an equity investment fund which was closed down by its parent company, advising those who had been recently recruited on potential claims for misrepresentation, and negotiating settlement.
• Advised employees of a global management consultancy in relation to FCA obligations arising from Appointed Representative arrangements.

Recognised by Best Lawyers UK for Employment Law 2024–2025

Member of the Employment Lawyers Association (ELA)