Two traders sacked by ANZ for inappropriate behaviour are suing the bank for tens of millions of dollars, claiming a rampant culture of sex, drugs and alcohol was condoned among senior staff on the dealing floor.
The boss of Australia and New Zealand Banking Group, Shayne Elliott, has broken his silence on the trading floor scandal that erupted last week to defend the bank's culture but at the same time decry behaviour in the past.
Two former senior bank employees have launched unfair dismissal claims against the bank alleging it condoned a culture that tolerated booze, strip clubs and drugs.
The bank has issued statements casting doubts on some of the claims but also vowing to stamp out behaviour not consistent with its code of conduct.
In response to questioning on Twitter over the weekend, Mr Elliott made his first comments on the scandal insisting that there was a "strong inclusive" culture at ANZ but that "historic markets behaviours [were] unacceptable".
One of the two men sacked by the bank claimed that human resources staff had accompanied him to a strip club.
On the weekend though ANZ's top human resources executive Susie Babani also took to Twitter, again in response to criticism, to state that doing business at such a venue was "NEVER ok".Source: theage.com.auAuthor : Mathew Dunckley
The Full Court of the Federal Court has delivered another twist in one of Australia’s largest class actions, overturning the decision of the primary judge that some of ANZ’s bank fees were void for being penalties.