Ambitious 'high flyer trader said motivated by 'blind amibtion'

A former Barclays trader helped fix Libor rates in an attempt to boost his career by currying favor with the swaps desk, where the "glamour boys" and "big dogs" worked, a prosecutor said Tuesday at a London trial.

Bloomberg News reports that Jonathan Mathew said new employees often targeted the swaps desk as a career goal. He was willing to break the rules to get there, James Hines, a prosecutor for the U.K. Serious Fraud Office, said.

'You were motivated by blind ambition - for your career and all its trappings', Hines said to Mathew. 'You were prepared to rip off these counterparties - because that is what it took'. Hines had described Mathew as an ambitious 'high flyer'.

Mathew, 35, denied the allegations.

'I was doing what I was told to do by my boss', Mathew said.

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

U.K. Trader’s ‘Blind Ambition’ Led to Libor Fixing, SFO Says

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