The Boss Of A Famous Australian Brokerage Had A Payout Request Rejected

The boss of JBWere Paul Heath had a payout request knocked back by the Fair Work Commission after his brokerage was placed under tighter control by parent company National Australia Bank, according to the AFR.

Heath, who is leaving the business, wanted nearly $400,000 — which was a year’s salary of $377,268 well as interest — as he believed his role, as it existed before JBWere was sold, no longer existed.

He could have remained as chief executive, or taken another role with NAB which would have amounted to a promotion, however Health, according to the report, though he would slip down the bank’s hierarchy, after running a business with 450 staff and $150 million in average annual revenue.

But the Fair Work Commission threw out the claim, after Heath said he was entitled to a payout under the bank’s collective agreement.

There’s more here.

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