Former ANZ CEO Defends Bank's Decision to Dismiss Trader

Written by Emily J. Thompson, Senior Investment Analyst

Source: Reuters

Updated: Oct 24 2025

0mins

Source: Reuters

ANZ's Justification for Termination: ANZ's former CEO Shayne Elliott defended the bank's decision to fire trader Etienne Alexiou for sending inappropriate messages, asserting that the termination was justified due to violations of the bank's code of conduct.
Whistleblower Claims: Alexiou is suing ANZ, claiming he was dismissed after making whistleblower complaints regarding the bank's alleged manipulation of borrowing cost rates, which ANZ has denied.
Trial Insights: The ongoing trial has revealed concerning aspects of ANZ's workplace culture, including incidents of inappropriate behavior by senior executives, highlighting issues within the bank's markets business.
Financial Implications: Alexiou is seeking A$30 million in damages from ANZ, which has previously faced significant fines for rate manipulation, underscoring the financial and reputational stakes involved in the case.

About the author

Emily J. Thompson

Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.