Bank CEO lashes out at 'unacceptable' behaviour

Thumbs Down

Alleged foul language and drunken antics will not be tolerated.

Australia & New Zealand Banking Group’s CEO Shayne Elliott said some of the past behaviour of the bank’s markets team was 'unacceptable', in response to lawsuits from two former traders.

Bloomberg News reports that ANZ is 'committed to action' and had a strong inclusive culture, the Melbourne-based Elliott, who took over as the CEO on January 1, said in a tweet on Sunday in his first public statement after news of the lawsuit came out on Friday.

Etienne Alexiou and Patrick O’Connor, who were fired last year for sending offensive messages and are appealing their dismissals and suing for tens of millions of dollars, claim senior managers condoned a culture of foul language and drunken antics including trips to lap-dancing bars.

ANZ will 'vigorously' defend the claims, Chief Risk Officer Nigel Williams said in a statement on Friday. 

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

ANZ CEO Says Some Past Conduct by Bank Traders Was Unacceptable

Davos Veterans Say Stop Worrying About China's Market Meltdown

JefferiesAnd the Best Place to Work in the global financial markets 2018 is...

Register for HITC Business News