63-year-old IT programmer Roger Duronio is said to have been angry when his UBS PaineWebber (now UBS Wealth Management USA) bonus for 2001 came in short of his expectations. He is currently in court in New York, accused of installing a 'logic bomb' in the bank's IT system that cost millions of dollars to put right.
63 year-old former UBS IT programmer Roger Duronio is in court in New York facing charges of computer sabotage, mail and securities fraud. He is accused of planting a 'logic bomb' at the bank as he was unhappy with his 2001 bonus. The 'bomb' caused millions in damages and, according to witness testimony, its legacy still haunts the firm to this day.
Silicon.com reports that Michael Johnson, a one-time City IT manager who has been involved in a five-year legal battle to clear his name, has gone bankrupt with debts of $4.8m.
The Wall Street Journal had a great article last week about ICAP boss Michael Spencer. Here are some of the highlights:
That's what we want to find out, and we want you to help us.
There are now around 850 job sites in the UK (even one specialising in the recruitment of chefs for yachts!), and thousands more around the world. Not all are making money, but many are helping desperate recruiters access decent cvs at minimum cost.
The Times reports that the circulation of lewd e-mails, and other similar no-nos, could see firms landed with unlimited compensation payments for se.ual harassment - at least if the UK's Equal Opportunities Commission (EOC) has its way.
Austrian bank Bawag P.S.K. Group has reached a $675m settlement with US authorities, Refco creditors and investors, for its alleged role in the demise of the firm. Bawag has been accused of helping former Refco CEO Philip Bennett hide the firm's bad debts from the public. Bennett has denied wrongdoing.
Change implementation specialists Changefirst questioned over 600 change leaders and project managers in major UK, pan-European and global organisations about the level of employee commitment to strategic change like mergers, outsourcing and restructurings.
According to The Independent, Jon Wood, who currently heads up prop trading at UBS, has brought in $2.4bn in revenues for his firm over the last 5 years, managing a trading book of $3bn.
JPMorgan CEO Jamie Dimon will seek to restore investor confidence this week after a trading loss wiped out $39bn of the firm's market value and marred his reputation as one of the industry’s best risk managers.
Former Barclays CEO Bob Diamond has sent a letter to Andrew Tyrie, Treasury Select Committee Chairman, expressing his dismay that MPs believe that he was 'less than candid' when he appeared before the Treasury Select Committee last week.
The moment of truth is close at hand.