UBS Rogue Trader Not Pressured By Firm

Kweku Claus

Rogue trader Kweku Adoboli was not put under too much pressure to deliver profits, his former manager at UBS has told the BBC.

Adoboli was jailed last month for the biggest fraud in British history.

His defence had argued in court that bosses turned a blind eye to traders who breached their risk limits, as long as they delivered profits.

But Adoboli's former supervisor at UBS said he did not agree that they were pressured from the top.

'I think you have personal levels of stress that you put upon yourself', John Hughes said in an interview with the BBC. 'One of the things that people should look for in the characters that they hire to a trading floor is that they can cope with different types of situations'.

Hughes likened trading to a game of nerves, testing whether a trader could hold his ground against other market participants.

'It's psychological warfare', he said.

Hit the link below to access the complete BBC News article:

Rogue trader Kweku Adoboli 'was not pressured' by bank

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