The issue of pseudo-managers in banks

In October 2020, Aleba, the majority union in the financial sector, called on the press to announce an important legal victory. An employee of Caceis Bank Luxembourg had just won his case before the Labour Court, which ruled that he should not be classified as a senior manager but as an employee covered by the collective labour agreement specific to banks. The case confirms what the unions have been denouncing for several years: some bank executives are "false executives", meaning that their activity, responsibilities and remuneration remain those of employees. The OGBL estimated the number of false professional and managerial staff at 10,000 in 2018, while Aleba put the figure at 7,385 false professional and managerial staff following a survey of its members, i.e. a representative sample of "more than 50 per cent of staff in the banking sector".