A former Royal Bank of Canada currency trader who was “put on the naughty step” and eventually fired after making repeated complaints about lapses in the lender’s compliance procedures won his London unfair-dismissal lawsuit.
Bloomberg News reports that John Banerjee said in an interview that RBC promoted a culture of "indolence" where employees failed to sufficiently read through policies and when he pointed the fact out to senior managers, it lost him his job. The bank blamed his lack of punctuality.
The bank’s culture was one of "indolence, frankly, and a feeling of arrogance," Banerjee said, adding that RBC simply wasn’t concerned with ensuring internal compliance with the rules. "Was I unusually zealous in doing this? Well it turns out yes, I was very unusual."
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