A long-running unfair dismissal case against ANZ in Australia has reignited in the Federal Court, with former senior trader Etienne Alexiou grilled over a string of crude and inappropriate messages sent to colleagues more than a decade ago.
Alexiou, who was dismissed in 2015 from his role as ANZ’s global head of balance sheet trading, claims he was sacked for blowing the whistle on alleged misconduct tied to the bank bill swap rate (BBSW).
The bank, however, maintains he was removed because of offensive remarks and behaviour that breached workplace standards.
On Monday, ANZ’s counsel, Kate Morgan SC, challenged Alexiou over comments he made in internal chats, including boasting about a sexual encounter with a television actress and joking about seeking Viagra to use outside his marriage.
Confronted with the messages, Alexiou conceded they were “offensive” and “disrespectful,” though he insisted some were satirical exaggerations of banking culture.
The court also heard he received a warning in 2013 after inappropriately kissing a colleague at a client event, and that he had not fully read ANZ’s code of conduct policies.
Despite this, Alexiou denies misleading regulators during the Australian Securities and Investments Commission’s probe into BBSW manipulation, which ultimately saw ANZ pay a reported $50 million settlement.
Alexiou, now a private equity director, has been locked in legal disputes with ANZ for nearly a decade, and his case is expected to shed light on the bank’s handling of misconduct allegations.
The hearing comes just weeks after ANZ was hit with a record $240 million penalty for misleading customers, adding further scrutiny to the bank’s culture and practices.
The trial is scheduled to run for six weeks.
Stop that holier-than-holy lawfare!
But I guess that’s what ya get with femnazi hysterics.