The High Court has thrown out a claim by two former Investec traders for a combined total of more than £6m in bonuses from the company. Judge George Leggatt said: “I regard their claim that an oral agreement was made to use the ‘institutional market rate’ in calculating their bonuses as wholly incredible.” Andrew Brogden and Robert Reid have been ordered to pay Investec’s costs of more than £1.5m.

Financial Times, Page: 16