BofA and Deutsche said to hire trader accused of rigging Libor after Citi firing

Gavel

Bank of America and Deutsche Bank tried to hire Thomas Hayes after he was fired by Citigroup in 2010, the trader told investigators. But those efforts were dropped after the reasons for his dismissal came out.

Bloomberg News reports that Hayes said he got calls from the banks 'immediately' after he was dismissed by Citigroup for rigging benchmark rates, according to a 2013 interview with prosecutors that was played to a jury Tuesday on the fifth day of trial in London.

The banks were happy to hire him because the rumour was that he had been fired for losing money, not for trying to rig Libor, Hayes said.

He was about to sign a contract with Bank of America in New York in January 2011 when a senior executive at UBS, warned them off, saying the trader was 'too risky'. The offer was withdrawn after that, Hayes said, according to the recording.

To access the complete Bloomberg News article hit the link below:

BofA, Deutsche Bank Recruited Hayes After Citigroup Firing

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