Wednesday, June 24, 2015

"City trader in Libor scandal branded an ‘unimpressive total wide boy’"

From CityWire's Wealth Manager:
A City trader accused of helping rig Libor rates was described in court today as ‘unimpressive’ and a ‘total wide boy’.

Tom Hayes, who traded yen derivatives for UBS, was also branded ‘arrogant’ after he turned up ‘scruffy and unshaven’ for a tour round Citigroup’s offices in October, ahead of joining the investment bank’s Tokyo branch, according to Court News UK.

Southwark Crown Court heard that he began rigging rates after initially failing to impress colleagues in his new role. Hayes was said to have netted UBS massive profits, earning ‘millions’ in the process....MORE