Man sues asset management company for unfair dismissal after “gay abuse campaign”

A gay asset manager who claims he was sacked by a City hedge fund after a campaign of homophobic abuse is suing his former company for unfair dismissal and claiming more than £1 million.  

Paul Newton says he was regularly called “camp” and effeminate while working for Balyasny Europe Asset Management.  The experienced asset manager was fired on June 28 this year.

Mr Newton, represented by barrister Lawrence Jones, is now suing his former employers for unfair dismissal, arguing his sacking was the culmination of a campaign of homophobic abuse.  The firm is fighting the claims, saying they are “without merit”.

In a writ lodged with the Central London employment tribunal, Mr Newton claims he was “subjected to unrelenting abuse based on his sexual orientation by his colleagues, within an environment suffused with homophobia”.  

He is seeking an admission by the hedge fund that he was harassed and discriminated against, an acceptance that he was unlawfully dismissed, and damages for the effects of his alleged treatment.  

Balyasny Asset Management said in a statement it is “committed, by policy and ethical commitment, to a workforce free from harassment. We take seriously any allegations of a hostile work environment and believe these allegations are without merit.  We look forward to operating through the legal process and bringing the truth to light in this matter.”  

The hedge fund is due to respond formally to Mr Newton’s writ in the next few weeks, and the case has been listed for a week-long hearing starting on March 15 next year.

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