Bankers traumatized by their boss’ “emotional terrorism” Business

Most workers who cost their company hundreds of thousands of pounds are likely to expect a sharp rebuke from the boss – especially in the tense atmosphere of a trading floor.

But a BNP Paribas worker was so traumatized after his manager’s outburst over an apparent mistake that he called it “emotional terrorism” that left him feeling “waterboarded”.

In a sign that even some of the most pressured workplaces are being forced to abandon the old-fashioned disguise, the BNP has fired the director, Omar Alami, and he is now suing for wrongful dismissal.

The banker, who earned around £1million a year heading a dealing desk at BNP, reportedly described his hapless subordinate as ‘useless’ and ‘incompetent’ in front of his colleagues over a potential mistake by €800,000 (£666,000) which turned out to be a false alarm.

Mr. Alami denies the charges and is seeking $4 million in compensation for wrongful dismissal.

He told the Paris labor court that his response to his colleague who made the mistake was simply “lively”, and that the claims of others were anonymous and therefore difficult to counter.

He said: “I was never humiliating, I was never insulting or aggressive.”

The Paris-based financier found a new job within a year of being fired, but said he was earning 60% less than before and had to spend 60% less time with his family because the work was in Switzerland rather than France.

BNP lawyer Aurelie Fournier admitted the bank noticed problems in Mr Alami’s communication style and sent him on coaching courses.

However, she said she didn’t realize the extent of the problem until people complained. The colleague who said he was verbally abused should have been put on sick leave for two weeks and came into the office in tears.

“It is quite rare for people from the prosecution to speak out,” Ms. Fournier told the judges.

The case is the latest legal action over toxic workplace behavior in the financial industry.

In another London case, a UBS trader claimed the Swiss bank had a “toxic” work environment where people yelled at staff across the trading floor. The bank’s lawyers suggested that this kind of pressured atmosphere “is the inescapable reality of the job of a City tradesman”.

A former Swiss ‘banker of the year’ was also jailed last week for claiming nearly 200,000 Swiss francs in expenses to cover his visits to strip clubs.

The 65-year-old told a court earlier this year how a 700-franc dinner he had with a woman he met on the dating app Tinder was justified because he considered her for a job, and that a trip to Australia had taken place because he needed to examine the country’s ATMs.

The court also heard that the bills he disbursed included nearly 4,000 francs for the repair of a hotel room at Zurich’s five-star Park Hyatt that was damaged in a ‘huge row’ that he had had with a strip club dancer he was dating.

It’s not just the banks that are questioning their behavior.

Earlier this year, sources said The telegraph that Lloyd’s of London, the world’s oldest insurance market, was preparing to fine or ban a member for behavior involving a “systematic campaign of intimidation against a junior employee over several years”.

The employee worked for Atrium Underwriters, which was hit with a record £1million fine earlier this year after condoning bullying and an annual ‘boys night out’ involving initiation games, a heavy drinking and harassment of female staff. in the years leading up to 2018.

The disclosure dealt a blow to the London insurance market, which has tried to clean up its image in recent years following sexual harassment allegations that surfaced in 2019.

Lloyd’s only allowed women on its trading floor in 1973.

A BNP Paribas spokesperson said the bank “does not tolerate behavior contrary to the respect and dignity of the individual, at all levels of the organisation” and has systems in place to detect and combat the harassment.

“In this case, the company has taken all measures to protect its employees in accordance with group procedures”.

Mr. Alami could not be reached for comment. A decision is expected on May 17.

More about this article: Read More
This notice was published: 2022-04-21 18:36:10

Leave a Reply

Your email address will not be published. Required fields are marked *