The Tom Hayes Libor Appeal Was a Decade in the Making: Timeline

Tom Hayes’ legal fortunes have swung back and forth since he was first arrested by UK police 13 years ago as part of global investigations into Libor rigging.

Hayes joined UBS Group AG as a yen interest-rate swap trader in Tokyo in 2006. He then switched to Citigroup Inc. and was fired in 2009 after an internal investigation found he had manipulated the London interbank offered rate.

Tom Hayes, left, and Carlo Palombo in March 2024.

Source: Bloomberg

For half a century Libor helped determine the cost of borrowing around the world. It underpinned contracts running to hundreds of trillions of dollars, ranging from mortgages and credit cards to interest-rate ...