Bankers Behaving Badly

Sex, Harassment, Racism, Embarrassing E-Mails, & Outrageous Extravagance

See also Women bankers in Fiction
 


The banking industry and the financial services sector in general have received plenty of bad publicity in recent years, much of it well-deserved. Although rogues can be found in every occupation the City of London and Wall Street seem to attract more than their fair share.
 

Sexual Harassment, Sexism and the City

Many of the cases of scandalous behaviour involve sexism and sexual harassment. No doubt it could be said in defence of those accused in such cases that the increasingly litigatious nature of British society, following the American pattern, encourages such claims, and that it would be a pity if fear of the legal consequences made people scared of flirting. An article in the Wall Street Journal on February 16, 2000 claimed that sex is secret of young businesswomen's success.

According to the Sunday Times on November 17, 2002, in an article about harassment on Wall Street, "men are sick of gender awareness and the politically correct culture." That may be so, but simple, common decency could have prevented both the original problems and the imposition of a culture that makes men feel resentful. 

Sexism in The City of London and elsewhere in Britain

City banker "forced out of 'bunga bunga' firm by sexism and racism
Isabel Sitz claims she was forced out of her job at Oppenheimer Europe by male colleagues who compared the firm to parties held by former Italian Prime Minister Silvio Berlusconi. Telegraph, 12 July 2013.
 
Twitter Rape Abuse Of Caroline Criado-Perez Leads To Boycott Threat
The feminist campaigner who ran the successful bid to get a woman on British banknotes has revealed she has got "up to 50 rape threats an hour" on Twitter. Prominent journalists, showbiz stars and politicians rallyied to support Caroline Criado-Pere, threatening to quit the site if nothing is done to stop the abuse. Huffington Post, 27 July 2013.
 
Banker labelled 'Crazy Miss Cokehead' after whistleblowing, tribunal hears
Svetlana Lokhova claims she was accused of taking cocaine, being mad and unstable by bank bosses as part of a “sustained and vicious campaign of harassment and discrimination" after she reported a senior trader at Sberbank for insider dealing. Telegraph, 28 February 2013.
 
Banker seeks £13.5m after losing her job because of baby
Investment banker Oksana Denysenko returned to her post at Credit Suisse in London after the birth of her daughter to discover that the colleague who was filling in for her had been given her job. The East London Employment Tribunal found Ms Denysenko had suffered discrimination and been unfairly dismissed. London Evening Standard, 11 August 2010.
 
Vice president of Lehman Brothers made redundant on maternity leave ‘for not being at work’
Elizabeth Spencer is suing Lehman Brothers for £150,000 over claims that she lost her job when she went on maternity leave a fortnight after the bank went bust. Financial Mail Women's Forum, July 2 2010.
 
HBOS manager loses sexual harassment claim
Haley Tansey, an HBOS manager who alleged she endured a string of sexual advances from male colleagues lost a £600,000 harassment claim after a tribunal heard she was “no cowering wallflower”. BBC 15 May 2010.
 
HBOS manager loses sexual harassment claim
Haley Tansey, an HBOS manager who alleged she endured a string of sexual advances from male colleagues lost a £600,000 harassment claim after a tribunal heard she was “no cowering wallflower”. BBC 15 May 2010.
 
Goldmans banker always asked: Where's the brothel?
A City banker who boasts of sleeping with prostitutes worked on the deal at the centre of the Goldman Sachs 'fraud' scandal. Daily Mail, 23 April 2010.
 
City worker loses £4m sex discrimination case
An employment tribunal has ruled that Jordan Wimmer had not been a "persuasive" witness and dismissed her claims of sex discrimination, disability discrimination, unfair constructive dismissal and an unauthorised deduction from her wages by her former boss, Mark Lowe, founder and owner of the Mayfair-based firm Nomos Capital. Guardian 3 May 2010.
 
My boss wanted me killed, GTA woman claims
Jordan Wimmer has alleged that her former boss, a multi-millionaire London banker, hired hitmen to have her killed after their working relationship soured. Toronto Star, November 11, 2009.
 
City boss 'told female employee to work more and wear less’
Mark Lowe, multi-millionaire founder of Nomos Capital allegedly told Jordan Wimmer that she “needed to work more and dress less” a tribunal was told. Daily Telegraph, 11 November 2009.
 
Female City bankers sue over sexism claims at Japanese bank Nomura
Maureen Murphy and Anna Francis claim they were hounded out of work by sexist and racist attitudes at the leading investment bank and they are each seeking £1.5 million in compensation for loss of earnings and injury to feelings. Daily Telegraph, 3 November 2009.
 
Equal Pay for Women Scarce in London
Executive coach Gill Corkindale discusses a new study revealing women executives get paid less for equal work in London's financial sector. Business Week, May 15, 2009.
 
Barbara Stcherbatcheff
The website of the banker who wrote the anonymous City Girl column in the London Paper. She has since written the book Confessions of a City Girl.
 
Harman: I'll promote women to top of banks
Harriet Harman wants to use controversial new equality laws to pack the boards of nationalised banks with women. Daily Mail, 7 May 2009.
 
Lloyds bank faces £70,000 claim from single mum for alleged discrimination
Alison Weekes, a senior Lloyds banker, is seeking £70,000 in compensation, claiming that her female boss discriminated against her because she was a single mother. Personnel Today, 18 May 2009.
 
City broker dressed as "Borat's bitch", employment tribunal hears
Rosemarie Corscadden, a City broker, was made to dress up as a bunny and play one of "Borat's bitches" in a team building exercise. Daily Telegraph, 6 March 2009.
 
Female broker "prostitutes" claim
Rosemarie Corscadden, alleged her boss at equity brokerage CA Cheuvreux compared his female staff to a "team of prostitutes". BBC, 2 March 2009.
 
Bank accused of sexism after female staff advised not to dress like prostitutes
The Bank of England has been accused of "institutional sexism" after it held a seminar for female staff advising them on what clothing, shoes and makeup to wear. The Scotsman, 2 February 2009.
 
Banker claims she was sacked for promoting son's pop career
Kate Cassidy, a City high flyer has started a £1.5 million High Court battle claiming she was sacked for spending too much time promoting her son's attempt to become a pop star. Daily Telegraph, 3 February 2009.
 
City worker paid less for 'not being Korean'
Christine Jones, who is British, alleges she was treated like a "second-class citizen" at Woori Investment and Securities International, the UK arm of Korea's second largest investment bank, and she is demanding £400,000 in compensation. Daily Telegraph, 17 May 2008.
 
'Laddish culture' HSBC sacked me, says top female executive
Jacqueline Crawley who was HSBC's top-performing adviser seven years in a row claims she was forced out of her job because of the "laddish culture" in her office. Daily Telegraph, 21 April 2008.
 
City 'strip club culture is rife'
Sexism is still rife in London's City financial district and more needs to be done to tackle practices such as taking clients to strip clubs, a report from the Fawcett Society claims. BBC, 1 April 2008.
 
City lawyer in £19million claim went skiing on sick leave
Gill Switalski took a week-long break in the upmarket French Alpine resort of Chamonix. Medical expert Professor Simon Wessely said this was 'incompatible' with her claim that a sexist bullying campaign at work left her with extreme health problems that left her incapable of working or even reading a newspaper. Daily Telegraph, 17 June 2008.
 
Bullied lawyer set to collect a record £13 million damages
Gill Switalski, a leading City lawyer is in line for a record £13 million compensation payout over claims she suffered bullying and sexual discrimination by her colleagues at F&C Asset Management. Evening Standard, 11 March 2008.
 
I was NOT a victim of sexism in the City: An ex-bond girl broker reveals why she loved her money-driven career
From lap dances to all-night drinking sessions, ex-City bond broker Venetia Thompson experienced the testosterone-fuelled excess of the trading floor at first hand. After being sacked for writing an exposé, she was encouraged to accuse her bosses of sexism, but refused. Here she explains why her adrenalin-packed year in the Square Mile was the happiest – and craziest – of her life. Daily Mail, 6 April 2010.
 
Venetia Thompson: How I found my City limits
The life of a broker can be riotous, but when Venetia Thompson chronicled its excesses, she was quickly out of a job. Daily Telegraph, 7 March 2008.
 
Sexual discrimination in the City
A huge sexual discrimination claim worth more than $1bn is currently being brought against a major investment bank in London and New York as a class action for 500 women. BBC, 15 June 2007.
 
Trader loses discrimination case
Katharina Tofeji, a City trader who claimed a sexist work culture forced her out of BNP Paribas, one of Europe's biggest banks, has lost her £1.3m compensation claim. BBC, 22 June 2007.
 
City trader says bank's culture of sexism forced her out of job
Katharina Tofeji claims she was forced out of her job at the investment bank BNP Paribas after she had a baby. Guardian, April 17, 2007.
 
My high-flying City job was not worth a life of misery
"Cambridge graduate Polly Courtney was offered a prestigious job at a City investment bank. But her high hopes turned to despair." The Observer, 26 August 2006.
 
City woman who quit over sexism admits pole dancing
An article about Polly Courtney, Daily Mail, 30th August, 2006.
 
Polly Courtney's website
It contains details of her career and a book she has written inspired by her experiences.
 
Banker starts £11m sex bias suit against HBOS chiefs
Claire Bright, one of the most senior women at HBOS, began an £11 million lawsuit against bank executives over claims that she became suicidal after suffering sex discrimination from a male boss. Scotsman, 11 May 2006.
 
Sexism and the City
An article in the Evening Standard, Monday 1 July 2002, by Linda Davies, prompted by a number of high-profile sex discrimination cases in financial institutions that had recently been in the news.
 
Woman sues bank for £10m
Claire Bright claims that despite being in charge of £140bn in assets, she was suspended by she was suspended by bosses at HBOS "without reason" after she complained about her manager's behaviour. Daily Mail, 16 January 2006.
 
£800m sexism and the City law suit
Investment bank Dresdner Kleinwort Wasserstein is being sued for nearly £800m by six female employees in one of the biggest ever sex discrimination cases launched in the City and on Wall Street. Evening Standard, 10 January 2006.
 
Banker tells of bosses' nights lapdancing
Beth Baird is suing international bank Dresdner Kleinwort Wassertein for £500,000, claiming she was sacked because management knew she wanted a large family.  Evening Standard, 13 January 2005.
 
"Boss's insults after I lost my baby"
Diana Woodward, a senior banker who suffered a miscarriage and lost her job with Abbey National, described how senior managers set out to "destroy" her City career. Evening Standard, 15 October 2004.
 
Banker "not sacked for being gay"
A former banker at HSBC was not sacked because he was gay, an employment court ruled. However 4 out of his 16 claims against the world's third-largest bank were upheld. The Guardian, May 5, 2006.
 
Baby a bar to getting work, mother told
Diane Winship, an accountant in the City of London who was sacked while on maternity leave was told to delete her daughter from her CV if she wanted to work again, she told an employment tribunal. Guardian, August 11, 2004.
 
Sexism and the City lawyer sues again
Elizabeth Weston, who won £1m from Merrill Lynch over a colleague's 'lewd' comments, is taking legal action again, claiming the investment bank is trying to sabotage her career. Sinead McIntyre, Daily Mail, 6 June 2005.
 
£1m for lawyer who suffered breast jibe
Elizabeth Weston, an executive at investment bank Merrill Lynch, has been offered the cash to drop her employment tribunal action against the firm. Evening Standard, 13 July 2004.
 
Sexism charges rock bank
A Sydney lawyer, Elizabeth Weston, has emerged in London as the latest woman to take on an international battle against investment giant Merrill Lynch on the grounds that it discriminates against women. The Sun-Herald, June 20, 2004.
 
Banker fails to make former employer pay up for legal costs
Stephanie Villalba, the former head of European private banking at Merrill Lynch, now faces a total bill estimated at up to £1m after losing her claim for nearly £600,000 legal costs. Personnel Today, 25 April 2005.
 
City banker's "liars" outburst
Stephanie Villalba who was attempting to recover £600,000 in legal costs accused four bosses at Merrill Lynch of lying on oath and misleading an industrial tribunal. Evening Standard, 17 March 2005.
 
Stephanie Villalba Loses Sex Discrimination Case
The former executive at the London offices of Merrill Lynch lost her £7.5m ($14.6m) sex discrimination case against the US investment bank but won her claim of unfair dismissal.
 
Banker's sexism claim adjourned
The £7.5m ($13.8m) sex discrimination claim made by former banker Stephanie Villalba against Merrill Lynch has been adjourned until 31 August. BBC, 22 June, 2004.
 
Sexism in City case under way
Stephanie Villalba, a former senior banker who is suing Merrill Lynch for £7.5m was "bullied and belittled" by her male boss, a tribunal in London has been told. BBC, 8 June 2004.
 
Banker wins sexism case
Arianna McGregor-Mezzotero has won her sex discrimination battle with her City employers. Evening Standard, 18 June 2004.
 
"Suicidal" trader ends court case
Helen McNallen, a City trader who claimed her £200,000-a-year job almost led her to suicide, has settled a case with her employers Commerzbank AG. BBC, 28 April 2004.
 
Bank boss jealous of adviser
Karen Smyth, a financial adviser, was awarded £59,030 in compensation when the Halifax admitted liability for her constructive dismissal. Daily Telegraph, 28 April 2004.
 
City firm "branded woman a whinger"
Katherine Wallace a solicitor at a top City law firm claimed she was sacked two-and-a-half hours after telling her bosses she was pregnant. This is London, 29 March 2004.
 
HBOS faces sex case tribunal
The asset management arm of banking group HBOS faces a sex discrimination claim from one of its former senior fund managers, Christine Farquhar. The Guardian, July 11, 2003.
 
UK Stock Exchange defends its boss
Clara Furse, the first woman boss of the Stock Exchange, has been the subject of malicious rumours. BBC, 17 February 2003.
 
Andrea Madarassy v Nomura International: judgment in full
The verdict in the case sex discrimination case Andrea Madarassy brought against the Japanese bank Nomura. The Times, April 7, 2006.
 
Banker attacks "Cinderella" sexism in City
Andrea Madarassy, who formerly worked for Nomura International, claimed she was reprimanded for not skipping lunch while she was pregnant and made to report to her manager every time she had to leave her desk due to morning sickness. The Guardian, November 15, 2002.
 
City discrimination case reopened
A high-profile sex discrimination case involving the multi-million pound bonuses paid to some City financiers has come back to haunt London investment bank Investec after Louise Barton won her appeal. BBC, 3 April 2003.
 
It's a man's world
Last week an investment bank trader accepted £70,000 for unfair dismissal. She had been asked to wear short skirts and give massages, and was made redundant while on maternity leave. Is this a rare incident or is the Square Mile still a haven for unreconstructed men? By Emma Brockes Monday March 19, 2001 The Guardian.
 
Is the City sexist?
The Square Mile is seen by many as a last bastion of male dominance. Former City worker Julie Bower has just won a sex discrimination case about unfair pay against Schroder Securities. Several other cases have highlighted the laddish and sexist behaviour of some City offices. BBC, 11 April, 2001.
 
The Woman Who Wouldn't Play City Boys' Games  
Linda Davies describes her experience in the world of international finance before she gave up banking to become a writer
 
Eleanor Mills meets Aisling Sykes
JP Morgan admitted it had behaved unfairly when it sacked a senior manager, Aisling Sykes who was sacked by JP Morgan, claims she was dismissed for trying to juggle her job and family. 16 January 2000.
 
Payout over sexism in the City
A woman who claimed she was forced to resign her high-flying City job over a pay dispute has won a sex discrimination case against her former employer. Julie Bower, 35, was earning £120,000-a- year as a senior analyst with Schroder Securities Limited, but resigned because her complaints about unequal pay went unanswered. BBC Tuesday, 10 April, 2001.
 
Sexist comments "forced banker to quit"
Kay Swinburne, a successful City banker says she was the victim of sexual innuendoes and told a tribunal that she was forced out of her highly-paid job by a manager who continually referred to women as "hot totty" and a "bit of skirt". BBC, Thursday, 23 December, 1999.
 
"Massive" payout in bank sex case
A former high-flying City banker has been awarded a "massive" damages payout after a sexual discrimination case. In January, an employment tribunal found that Deutsche Bank failed to protect Kay Swinburne, from a "hostile environment" created by her male managers. BBC, 9 March, 2000.
 
£70,000 for City trader "asked to massage colleague"
Isabelle Terrillon who alleged she was told by a male executive to wear "short, tight skirts" and asked by another to strip and give him a massage won £70,000 in an out-of-court settlement with Nomura International. The Daily Telegraph, 13 March 2001.
 
A repeat of Sex and the City
How the accounting profession is damaged by sexism. By Damian Wild, editor of Accountancy Age, 5 July 2002.
 

Sexism in Australia

Christina Rich in £2 million settlement
Christina Rich the highest-paid partner in PriceWaterhouseCoopers' office in Australia, has received £2 million in one of the world's biggest ever payouts for a claim of sexual harassment. Daily Telegraph, 1 April 2008.
 

Sexism on Wall Street and elsewhere in the United States

Citigroup accused of sacking female staff… to save jobs of less-qualified men
A group of women working for banking giant Citigroup have filed a class action lawsuit claiming the bank is effectively run as a ‘boy’s club’. The five former employees and one current employee claimed less qualified men kept their jobs during a mass round of redundancies while they were fired or demoted. 15 October 2010.
 
Sexism in the city? Clerk claims $20m for being 'violated' by boss on trading floor
The legal action has been launched against Marcus Bolton, the head of Tullett Prebon Americas Corp, the leading New York brokers, by Jessica Franqui who claims that she was manhandled and wrestled to the floor before her alleged assailant stood forcefully on her right breast. It is alleged that the incident happened at the options trading desk in the company's offices in Pine Street, New York. Daily Telegraph, 15 August 2010.
 
New York banker claims she was fired for being attractive
Citibank denies sex discrimination claim it sacked Debrahlee Lorenzana because her appearance was 'too distracting' for male colleagues. Guardian, 4 June 2010.
 
Gender politics hits financial debate
Sen. Maria Cantwell (D-Wash.) called out the Senate old boys for seeming to brush off the new girl on the financial reform block: Senate Agriculture Committee Chairwoman Blanche Lincoln (D-Ark.). Politico 27 April 2010.
 
A bad victory for women
Laura Zubulake, a 44-year-old former Wall Street banker, won £15.6m in a sex discrimination case. For all her triumphant rhetoric, cases such as this one set women back decades. Put very basically, Zubulake won £15.6m because she didn't much care for being called plain. India Knight, Sunday Times, April 10, 2005.
 
"Too ugly" banker wins £15million
Laura Zubulake, a top Wall Street executive has won almost £15.5 million in damages from banking group UBS in one of the largest ever sex discrimination awards to an individual. London Evening Standard, 7 April 2005.
 
Morgan Stanley And The Women
Does Morgan Stanley have a women problem, or does Allison Schieffelin have a Morgan Stanley problem? Forbes Magazine, July 7, 2004.
 
Morgan Stanley Settles Gender Discrimination Case for $54 Million
The settlement would include $12 million for Allison Schieffelin, the lead plaintiff. Morgan Stanley is to implement "far-reaching" measures — including agreeing to oversight by an outside monitor — to enhance the role of women in its work force. In addition, a retired federal judge is to oversee a $40 million claims fund for women alleging discrimination at the firm. 12 July 2004.
 
CEOs Went Wild, and So Did This Author
A review of the book, Testosterone Inc.: Tales of CEOs Gone Wild by Christopher Byron. Fortune Magazine, May 2004.
 
Spitzer announces settlement with Wall Street firms in major discrimination case
Agreement Will Help Ensure That Women and Minorities are Treated Fairly in the Securities Industry. March 23, 2000.
 
Tales from the Boom-Boom Room: Women vs. Wall Street by Susan Antilla
A book by the reporter who broke the story of sex discrimination at Smith Barney, Merrill Lynch and other major brokers. It is based on the experiences of the lead whistleblower, Pam Martens.
 
Smith Barney Wins Arbitration Order in "Boom Boom" Case
Two female plaintiffs in the famous Salomon Smith Barney “Boom Boom Room” sexual harassment case were ordered by a U.S. District Judge in New York on Friday to submit their claim to an NASD arbitration panel. Rick Weinberg, May 4 2002.
 
Smith Barney Sexual Harassment Case
26 women filed a class action suit in federal court claiming sexual harassment and sex discrimination at Smith Barney.
 
NOW set to name new "Merchant of Shame" as it Protests Corporate Giants from Wall Street to Main Street
In the largest such suit against a Wall Street investment firm, 26 women have charged that sexual harassment and other discrimination took place at branch offices in 11 states.
 
Adams investor lost sexual harassment suit in Ky
The shareholder responsible for ousting Barbara Davis Blum, the former chairman, chief executive officer and president of Abigail Adams National Bancorp, was hit by a sexual harassment lawsuit which supporters of Blum claim showed he did not have the interests of women at heart. Washington Business Journal, June 12, 1998.
 

The Media and Women in Banking and Finance

Katherine the Great joins Morley
A huge restructuring of Morley Asset Management was on the cards after Katherine Garrett-Cox, dubbed "Katherine the Great" by the City, was named as chief investment officer. The Guardian November 4, 2003.
 
The fair sex and the City
An article from the Evening Standard about influential women in the City of London. 30 January 2001.
 
Poor Robin
A report on a rotten week for WestLB's high-profile banker. Daily Telegraph, 28 September 2003.
 
Boxclever blow for Saunders
An article about Robin Saunders' meteoric rise to fame and the controversies that have dogged her during 2003. This is London, 24 September 2003.
 
"Superwoman" Horlick Stays Put To Save Family
Nicola Horlick has abandoned her plans to work for AMP in Australia as a move at this time would not be in the best interests of her family. January 2004.
 
Cynthia Cooper, Coleen Rowley and Sherron Watkins
Time Magazine's Persons of the Year 2002. They took huge professional and personal risks to blow the whistle on what went wrong at WorldCom, Enron and the FBI.
 

Women's Networks

Women on Wall Street
Women on Wall Street (WOWS) is an annual conference sponsored by Deutsche Bank's Global Partnership Network for Women The network has sponsored the Women on Wall Street conference since the conference's establishment in 1995. Details of past conferences not only on Wall Street but also in London and Frankfurt are included.
 
City Women's Network
The UK's premier network for senior executive women.
 
Girlfriends in High Places
A report on professional networks for women by Helen McCarthy for the Demos thinktank.
 
Women in Banking and Finance
A non-profit making leading professional organisation committed to empowering its members in the banking and finance industry to realise their full potential.
 

Racism

"Racism" Analyst Accepts Settlement
Fadil Dookhy, a city analyst who claimed he was the victim of "institutional racism" at the world's biggest financial services, group has accepted an undisclosed sum in settlement. The Evening Standard, 19 March 2004.
 
Firm pays £500,000 for ordering Jew to dress as Hitler
A Jewish stockbroker sued his former employer for racial discrimination after being ordered to wear a Nazi uniform to work as punishment for tardiness. Laurent Weinberger, whose grandmother died at Auschwitz, received an estimated £500,000 from the London brokerage firm of Tullett & Tokyo Liberty in compensation. July 13, 2001.
 
Legal battles loom in London
Among the cases facing Merrill Lynch in London is a race discrimination case brought by Farhoud Moaddel, a former employee who claims he was ousted after failing to fit in with colleagues. The Observer, April 14, 2002.
 

Ageism

Schroders faces ageism suit
Michael Dobson, chief executive of fund management group Schroders, has been accused of firing the head of the firm's US operation, Sharon Haugh, because she was too old for the job at 55. Jill Treanor, the Guardian, October 9, 2002.
 

Bullying

City worker wins bullying charges
A high-flying City trader, Steven Horkulak, won £1m in compensation from his former employer, the international broking firm Cantor Fitzgerald. Horkulak quit his job in June 2000 because Lee Amaitis, the head of the company's UK division, used "the language of criminal intimidators". BBC 31 July  2003.
 
Married City trader ‘suffered years of homophobic abuse’
A City trader was subjected to a “heartbreaking” campaign of homophobic abuse even though he was a happily married heterosexual, a tribunal heard. Evening Standard, 23 April 2013.
 

Embarrassing E-Mails and E-mail Harassment

There have been a number of occasions in recent years of where lewd e-mail messages have been widely circulated in financial centres. The resulting embarrassment might be considered more than punishment enough, but in some cases people involved have also lost their jobs.
City worker may be fired for email about office ‘womaniser’
Miranda Barker, a personal assistant at Barclays Capital, faces the sack after sending a “drunken” email to hundreds of employees at her company warning them about a womanising colleague. Evening Standard, 1 July 2010.
 
City worker suspended over salacious email
Robert Imlah has reportedly been suspended from JP Morgan Cazenove after boasting about his sex life on an email which circulated worldwide. Daily Mail, 20 January 2006.
 
Saucy email woman returns
Sharon Dyson flew back from a business trip to Sydney to face the furore she unwittingly caused by sending an intimate email to her boyfriend, 25-year old PR executive Alex Hewson. Evening Standard, 10 March 2004.
 
The Peter Chung Email
Peter Chung got a lucrative job in the South Korean office of the Carlyle Group, a major international investment firm but was sacked after a vulgar e-mail message describing how he was looking forward to erotic adventures was widely disseminated. May 2001.
 
One click from humiliation
Mary B. Callahan received a message from a man at a New York investment bank asking for a date. She intended to forward it to a friend after adding some indiscrete comments but instead hit "reply".  The Age, September 18 2002.
 
City worker suspended over sex e-mail
A City worker, Trevor Luxton, who sent an email to friends boasting about a sexual conquest while his fiancee was away was suspended by Credit Lyonnais. He subsequently resigned from his job. 3 October 2002.
 
City worker suspended over sex e-mail
Trevor Luxton, who works for French bank Credit Lyonnais in London has been suspended after an e-mail he is alleged to have sent to friends about an alleged sex act was spread across the internet. October 3, 2002.
 
Email boaster gets his comeuppance
Bradley Chait, the boyfriend of Claire Swire, faced disciplinary action after forwarding to his friends an intimate message from her which then got forwarded around the world. The Guardian, Friday December 15, 2000.
 
Royal & Sun Alliance sacks 10 over obscene emails
A lewd e-mail picture showing the cartoon character Bart Simpson in a sexual clinch has cost 10 people their jobs.
 
Banker Accused of E-Harassment
A judge ordered a former Smith Barney investment banker to appear in court next month on charges that he harassed top executives at the firm by allegedly sending a series of phony email messages. Michael Lissack faces eight counts of aggravated harassment. Reuters, Aug. 20, 1998.
N.B. Lissack was in dispute with the firm at the time because he acted as a whistleblower on questionable practices.
 

Outrageous Extravagance

Disgraced banker Jordan Belfort: Wolf of Wall Street is a 'cautionary tale' new!
The jailed stockbroker who inspired Martin Scorsese's film told Piers Morgan many have misinterpreted the movie as a glamorisation of financial excess Guardian, 22 January 2014.
 
Why Barclays' Rich Ricci had to go
Investment arm chief's 'retirement' was a way for the new chief executive Antony Jenkins to assert his authority. Guardian, 18 April 2013.
 
Rich Ricci profile: most of those blamed for the credit crisis have gone to ground, but not this Barclays investment banker
He's become the poster child for the excesses of the investment banking industry. Rich Ricci courted national infamy when, on the day of another austerity Budget, Barclays revealed that it had handed its investment banking chief £17.6m in shares, all of which were sold. The Independent, 22 March 2013.
 
The City’s repellent Caligulas just won’t lie down
They still don’t get that they repulse us. In fact, they repulse us to the point where they have become a political issue. India Knight, the Times, April 25, 2010.
 
Bankers from another planet
With losses of £5 billion, how can a tax-payer owned bank justify obscene bonuses? Why is anyone at all at the Royal Bank of Scotland still getting a bonus? Daily Record, 1 March 2013.
 
Barclays shareholders have spoken. The overpaid must listen
Barclays shareholders have sent a clear message: where pay and bonuses are excessive, they will be challenged. Guardian, 27 April 2012.
 
Barclays boss could get £60m
Bob Diamond, president of Barclays and head of its investment banking division, has been rewarded with cash and shares worth £60m. This comes after a furore over City bonuses and amid efforts by banks to show pay "restraint". Guardian, 19 March 2010.
 
Drunk trader banned for buying 7 million barrels of oil
Steven Perkins, an oil trader who bought seven million barrels of oil in the early hours of the morning after a weekend of heavy drinking has been banned by the City watchdog. BBC, 29 June 2010.
 
I'm doing 'God's work'. Meet Mr Goldman Sachs
Lloyd Blankfein: chairman and CEO in a very lengthy interview described the work of Goldman Sachs and defended its enormous profits and massive bonus payments. Sunday Times, November 8 2009.
 
Banking fat cats are still shamelessly purring
George Pitcher, a London clergyman, responds to the claim by the C.E.O. of Goldman Sachs that he is doing God's work. Daily Telegraph, 9 November 2009.
 
Ex-RBS chief Sir Fred Goodwin plans to ride out pension storm abroad
Sir Fred Goodwin, the former chief executive of Royal Bank of Scotland, is considering leaving Britain to avoid the growing row over his pension payout of more than £30 million. The Times, March 4, 2009.
 
Battle Over Bonuses: Govt. Says Bank of America Threatens to Sue Employee Willing to Talk
The battle for bonus figures in the New York State investigation into the merger of Merrill Lynch and Bank of America got even uglier with the bank "threatening to sue" a former employee who was willing to unconditionally tell the state's attorney general which Merrill high-fliers received the thickest slices of a $3.6 billion bonus pie that was dished out on the eve of the January merger. ABC News March 6, 2009.
 
Wall Street bankers keep two thirds of bonuses
Bankers in America’s financial heart saw their bonuses fall by only a third last year, despite the financial devastation wreaked on Wall Street. Times, January 29, 2009.
 
Donate big bonuses, mayor urges
Bankers could help rebuild their "public esteem" by donating large bonus payouts to charitable causes, London Mayor Boris Johnson has said. BBC, 31 January 2009.
 
City Boy
The website of Geraint Anderson, better known as "City Boy", the author of the book, City Boy: beer and loathing in the Square Mile.
 
City Boy: so hard to love
A profile of Geraint Anderson, author of City Boy. Times, June 19, 2008.
 
City Boy: so hard to love
A profile of Geraint Anderson, author of City Boy. Times, June 19, 2008.
 
Bonus Backlash Brewing
The very people who brought us the global financial crisis are now getting ready to reward themselves for a job well done. Forbes Magzine, October 30, 2008.
 
Goldman ordered to justify billion-dollar bonus pot
Goldman Sachs,along with eight other leading US banks, has been instructed by influential Congressman Henry Waxman to provide the information as part of an investigation into whether taxpayer's money will be used to support remuneration pools. Daily Telegraph, 28 October 2008.
 
Market woes fail to dent City's hunger
with bonus season now in full swing, belts will need to be loosened a notch or two as City high-fliers splash out £1,000 for a single meal. Daily Telegraph, 28 January 2008.
 
City high-fliers feast on £1,000 bonus banquets
Just as the passengers on the Titanic continued to feast as their ship was sinking, so City slickers are booking specially designed, £1,000–a-head “bonus banquets”, apparently oblivious to the risk of being sunk by a recession. Times, January 26. 2008.
 
What do bankers spend their bonuses on?
Bonus season has kicked off and for all the fears of an economic slowdown, fresh tales of City splurges are still emerging. Guardian, December 14 2007.
 
Barclays man earns a record £22m
Bob Diamond, head of Barclays investment banking service earned £22m in salary, shares and bonuses last year. BBC, March 26, 2007.
 
Britain's best-paid banker
Roger Jenkins, head of principal investing and private equity at Barclays Capital, is said to earn as much as £75 million a year. Evening Standard, 19 January 2007.
 
Britain's best-paid banker
Some sources claim Roger Jenkins earned as much as £75m. Evening Standard, 19 January 2007.
 
£50m man tops the bumper payday
Driss Ben-Brahim of Goldman Sachs will forever be known as the £50m man. He was the talk of the City as the annual round of bonuses reached hitherto unseen heights. The Guardian, December 14, 2006.
 
Soaring City bonuses "hit £8.8bn"
More than 4,000 City workers will take home £1m bonuses this year as the stock market has soared and takeover deals have surged. BBC, 30 October 2006.
 
Hong Kong banker wins salsa case
Monica Wong, a prominent Hong Kong banker, has won back millions of dollars paid to famous salsa dancers for private lessons. BBC, 6 September 2006.
 
Hong Kong banker pays a world record price of of 95,000 euros for a truffle
It was sold at an auction of white Alba truffles held on 13 November 2005.
 
Banker with 'insane' bonus says £36,000 drinks bill is on him
A financier ran up a £36,000 bar bill after announcing to delighted revellers "the drinks are on me". At the end of the night the man, who said he was a hedge fund manager and had just been paid an "insane" bonus, left a £3,000 tip for the waitress. Scotsman, 1 October 1 2005.
 
Banker spends £36,000 on drinks in hotel bar
A banker racked up a drinks bill of £36,000 after going on a spending spree in a the Baglioni hotel in London. He said that he was a hedge fund manager who had earned £3m from one deal. Guardian, October 1, 2005.
 
Banker's £41,000 champagne spree
An investment banker from Monaco has been landed a £41,000 bill after ordering more than 70 bottles of champagne and spraying it around the VIP room of a nightclub in Soho. BBC, 18 August 2005.
 
Spitzer seeks $100M from Grasso
New York Attorney General Eliot Spitzer filed a lawsuit against former New York Stock Exchange Chairman Richard Grasso and the exchange Monday, seeking the return of some of Grasso's $187 million pay package. "You can't pay the head of a not-for-profit that much money," Spitzer said. CNN, May 24, 2004.
 
Bankers sacked over £44,000 meal
Five investment bankers from Barclays Capital who spent more than £44,000 on wine at a top London restaurant to celebrate a successful deal have left their posts. BBC, 25 February, 2002.
 
Gluttons for punishment
More information about the notorious Petrus dinner.
 
Five Barclays Bankers Lose Jobs Over Very Expensive Meal
One summer evening, July 5, 2001, six bankers celebrated a business deal with dinner at a London restaurant. Several hours and three bottles of Chateau Petrus later, they had run up a bill of more than £44,000 - according to Guinness World Records, the most expensive meal per capita ever.
 
The Flaming Ferraris
Their style of celebrating their success gained them plenty of publicity in Britain and around the world early in 1999 before claims of illegal trades in the Swedish stock market led to their downfall.

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Roy Davies - last updated 22 January 2014.