Walker loses $1m case against AMPH

AMP Henderson's former New Zealand shares manager, Stephen Walker, has lost his $1 million claim against the company over his dismissal.

Walker sought nearly $1 million from AMP over the way he left his job about a year ago.

He claimed, in the Employment Relations Authority (ERA), that during the period he was employed (October 1993 to May 2001) he was underpaid by $771,557 in salary, $73,100 in superannuation contributions, $47,337 in redundancy payments and $62,850 in bonuses.

Additionally he claimed $15,000 compensation for humiliation, injury to feelings and loss of dignity.

One of the allegations raised was that AMPH did not fully explore other employment options with him when his position was disestablished.

The authority has dismissed Walker's claims in regard to the interpretation of his salary entitlements and the impact on his superannuation contributions and redundancy.

Likewise it also dismissed claims about unfair treatment, saying AMPH had a good leaver policy and redeployment policy.

Also the ERA dismissed AMPH's $7000 counterclaim that Walker solicited his former deputy Craig Brown to join him in his new business Walker Capital Management.

WCM currently managers about $85 million for Tower Asset Management.

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