A 53-year-old who lost his job in April as co-president and northwest regional director of RBC Wealth Management in the U.S. is suing the bank, claiming that he was fired because of his age.
Karl Leaverton filed court documents in Washington just before the holidays alleging that he was illegally fired from the bank for being too old. The claim has not been proven in court and parent Royal Bank of Canada has not had a chance to respond to it yet. The bank declined to comment on Tuesday.
In his complaint, Mr. Leaverton claims that John Taft, the head of RBC's U.S. wealth management business, told him on the phone on April 13 that he was being terminated immediately. Mr. Leaverton alleges that Mr. Taft told him he had done "a great job" but said that RBC was "trying to clear the runway for younger talent" and wanted "to give some younger people a chance to see what they can do."
Mr. Leaverton filed his complaint in the western district of Washington on Dec. 21.
That was shortly before an investment banker in London won an unrelated age discrimination case against Canadian Imperial Bank of Commerce at the British Employment Tribunal. In that high-profile, lengthy, and unusual case, the British Tribunal ruled that CIBC had wrongfully dismissed a 42-year-old banker based on his age.