Australia: 2 sacked employees sue ANZ over alleged “toxic” company culture

Author: Swati Pandey (Reuters), Published on: 18 January 2016

"ANZ probes sacked traders' allegations of sex, drugs, booze", 14 Jan 2016

Australia and New Zealand Banking Group said on Friday it is investigating allegations of a company culture of sex, drugs and alcohol that are part of a multi-million dollar lawsuit against the bank by two dismissed traders…Alexiou was fired for inappropriate and offensive electronic communications, while O'Connor was dismissed for abuse of a company-issued credit card, ANZ said. The pair are suing Australia's No.3 bank for tens of millions of dollars…ANZ would vigorously defend the court applications made by O'Connor and Alexiou against their dismissal, the bank said. The court documents detail a hard partying, big spending, sexist, alcohol-fuelled culture in ANZ's global markets division, which employs more than 1,000 people. They describe corporate trips to lapdancing clubs and routine derogatory comments about women on the trading floor. The claims come at a time of growing global concern around financial markets conduct…

 

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Related companies: ANZ Bank