Boasting, indiscreet & vulgar comments aren’t OK: Colin Fan
London-based investment banker Colin Fan has warned traders that making boastful, indiscreet and vulgar comments could have serious consequences for your career.
Mr. Fan, the joint boss of Deutsche Bank's 'casino' division, said that some traders' communications were falling short of established standards, making a dent in the bank's reputation.
Issuing the stern warning, Mr. Fan said, "Some of you are falling way short of our established standards. Let's be clear: our reputation is everything. Being boastful, indiscreet and vulgar is not OK. It will have serious consequences for your career."
The 41-year-old Canadian warned that some traders might not realise the potential serious consequences of unacceptable comments, but they must know that all of their communications could be dragged under regulatory scrutiny.
The warning from Mr. Fan came after regulators published several traders' damning emails and controversial chat-room messages. In the emails and messages various traders boasted of their behavior; while some traders gave themselves nicknames like 'superman' and 'Lord Libor.'
It is worth-mentioning here that a number of banks, including Deutsche, RBS and Barclays, have recently been slapped with hefty fined for manipulating Libor interest rates.