A former senior finance executive has had his disability discrimination, reasonable adjustments failure and victimisation claims dismissed after he sued for receiving a smaller bonus than in previous years.
Matthew Colliander-Smith joined Veritas Asset Management in 2011 and became an operating partner in 2015. He was head of performance and risk when diagnosed with Long Covid in 2021 and was only able to work for 8% of his usual hours in 2022.
Having been awarded almost £185,000 in an annual bonus the previous year, he received a £10,000 bonus after working 18 days in an entire year while off sick. Colliander-Smith argued that because it was harder for him to work due to his illness, he should have received a higher award, closer to £100,000.
Veritas Asset Management eventually agreed to increase that to £40,000, but he wanted £97,000 instead.
Following this, there was a dispute between the executive and bosses about him returning to work and what role he might carry out, which led to his partnership being terminated in September 2023.
Colliander-Smith then sued over the bonus and complaints for disability discrimination, failure to make reasonable adjustments and victimisation. Veritas argued that the decision to award him a lower bonus was due to the fact that he had not performed any significant work during 2022.
All claims were dismissed, with the tribunal ruling Veritas was entitled to reduce the bonus given he had been almost entirely absent from work.
Employment judge Emma Webster said: “Given the vast difference between the bonus received 2021 to 2022, we understand why Mr Colliander-Smith may have been taken aback by the difference. Even on his own analysis he had worked 18 days of the year, which amounts to roughly 7.5% of the working days in a year.
“In the previous year, he had been awarded £185,000. 8% of that amounts to £14,800. It is clear from the evidence that the main factor rewarded was output, not simply effort. Colliander-Smith was awarded with a bonus, just not the bonus he expected.”
Veritas Asset Management was contacted for comment prior to publication.
