Sidley successfully defended Investec Bank PLC in London’s High Court in proceedings brought against the bank by the former head and deputy head of its structured equity derivatives desk. The Claimants attacked the basis on which the bank calculated their bonuses, and alleged that the Chief Executive of Investec had orally agreed with the Claimants to the effect that special provisions would apply when determining their bonuses. After a three-year battle, culminating in a two week trial, all of the claims were dismissed and Investec was awarded its costs. Partner Matthew Shankland led the Sidley team representing Investec.