7 Silly Bankers

I'm With Stupid

Stupid silly bankers.

1. In March 2011, an unnamed London-based Deutsche Bank employee was suspended (and thought to have subsequently lost his job) after pictures emerged of him taunting National Health Service (NHS) job-cut protesters when they marched passed the bank's London Wall City HQ building.

In what was a real misjudgement of the mood of the nation (and further proof that some bankers clearly still didn't get it), a group of Deutsche employees were seen peering out of one of the windows, pointing and laughing at the protesters as they went by. And one young(ish) man taunted the crowd by waving what appeared to be a £10 note.

'Loadsamoney' Deutsche Banker Suspended For Silly Taunt

2. A few years back, a Citigroup equity analyst was allegedly escorted from the firm's Docklands offices in his underpants, after he apparently returned from lunch rather 'the worse for wear'.

There remains some doubt about what the analyst actually did in his drunken stupor. Some say he stood on his secretary's desk and urinated 'willy-nilly', others that he merely wet himself.

Rumours abounded at the time that his trousers were taken off and placed in a microwave to dry (presumably that's where they remained when he was allegedly escorted from the building). The analyst is said to have been suspended. Whether he ended up still in a job after the affair is unknown.

Was Analyst Suspended For 'Taking The P' ?

3. In February 2008, Morgan Stanley London-based oils trader David Redmond, then 26, is said to have returned to the office from a 3-hour boozy lunch break and engaged in a frenzied bout of trading - in a 90 minute period in the early evening, Redmond traded, on average, once every 7.5 seconds!

Realising that he was in breach of his trading limits, Redmond then concealed his trading positions overnight by apparently transferring them onto an unknowing colleague's book. In doing so, he is said to have exposed Morgan Stanley to a possible loss of up to $10m. The next day, without informing the firm what he was doing, Redmond managed to trade his way out of the position and returned a small profit. The trader only admitted what happened when Morgan Stanley's internal controls picked up on it.

Morgan Stanley suspended Redmond, and subsequently fired him for gross misconduct. He was also later banned by the FSA, the UK market regulator, for 2 years.

What Do You Do With A 'Drunken' Trader ?

4. US regulator The Securities and Exchange Commission conducted 33 probes of its own staffers who were viewing porn at work over a five year period - 31 of which occurred during the two-and-a-half years of the financial crisis.

One of the agency's Washington-based attorneys was apparently spending up to 8 hours a day watching porn, and had used up all of the hard drive space on his computer by downloading explicit videos. He then started to download the smutty material onto discs, which soon began to fill up cardboard boxes which were found in his office!

An SEC spokesperson said: 'Each of the offending employees has been disciplined, or is in the process of being disciplined. Some have already been suspended or dismissed'.

5. A few years back a New York-based second year Credit Suisse technology analyst was said to have returned to the office (apparently over the weekend) rather the worse for wear, and trashed a colleague's work space).

The analyst, not unreasonably, is said to have been fired.

Drunken Analyst Said Fired After Trashing Colleague's Desk (HR Takes Picture)

6. In 2006, Merrill Lynch is said to have fired 13 employees in Dublin for alleged e-mail abuse. The firm is also said to have given written warnings to an additional 7 staff, who were sent home from the office following an inquiry.

According to press reports at the time, two staff members were previously fired after they allegedly sent a pornographic e-mail to a client. The additional sackings were believed to have resulted from a subsequent wide-ranging review of staff e-mails. The 13 staff who were been given the boot (both men and women) were given the right of appeal. The 7 who received written warnings were required to undertake retraining on internet and e-mail practices.

Top Firm Fires Staff After Alleged E-Mail Abuse

7. The Securities and Exchange Commission (SEC) found one of its employees to have attempted to access adult content on his work PC some 1,880 times during 17 working days in August / September, 2008.

To access the hilarious SEC interview transcript with this individual, press here.

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