Bring it on.
Two traders fired by Australia & New Zealand Banking Group last year for sending offensive messages are suing the bank, claiming senior managers condoned a culture of rule-breaking in which foul language and drunken behaviour went unpunished.
Bloomberg News reports that Etienne Alexiou, ANZ’s former head of balance sheet trading, and Patrick O’Connor are appealing their dismissals in the Federal Court in Sydney and suing for tens of millions of dollars of lost income and bonuses.
In documents lodged with the court, Alexiou alleges a culture in which Global Markets managers used obscene language, joked about drug-use and tolerated drunken antics, including allegedly driving a car onto a golf course during a bank conference. He claims a future manager took him to a Sydney lap dancing bar along with two female human resources employees as the bank prepared to hire him in 2011.
'ANZ will be vigorously defending both their court applications', the bank’s chief risk officer, Nigel Williams, said in a statement Friday. An internal investigation by the bank has already shown that many of the allegations made in the court claims 'are not accurate and these inaccuracies will become apparent as the matters proceed through the court system', he said.
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