• Contact
  • Feedback
Banking Day
Stay Ahead. Stay Informed.
Concise. Candid. Provocative.
Get the daily banking news that matters
Banking Day – Your trusted source for independent financial insights.
Subscribe Now
  • News
  • Topics
    • All Topics
    • Briefs
    • Major Banks
    • Authorised deposit-taking institutions
    • Insurance, funds and super
    • Payments, mobile & wallets
    • Consumer lending
    • Mortgages
    • Business lending
    • Finance regulation
    • Debt capital markets
    • Ratings agencies
    • Equity capital markets
    • Professional services
    • Work & career
    • Foreign news
    • Other topics
  • Free Trial
  • Subscribe
  • Resources
    • Industry events
  • About us
    • About Banking Day
    • Advertise
    • Feedback
    • Contact Banking Day
  • Search
  • Login
  • My account
    • Account settings
    • User Admin
    • Logout

Login or request a free trial

Bell sacked Aitken, not our call: ANZ

06 July 2016 4:51PM
The action by former prominent Bell Potter stockbroker Angus Aitken against ANZ and two executives moved into its next phase in the NSW Supreme Court yesterday, when ANZ started its response. Aitken, Bell Potter's former head of institutional sales, is suing ANZ, its chief executive Mr Elliott and its communications boss Paul Edwards for defamation, intimidation and misleading and deceptive conduct, reports The Australian. The action arose after Aitken sent a note to 70 clients describing incoming ANZ chief financial officer, Michelle Jablko, as one "of the dumber appointments I have seen," adding it was another reason "not to own this stock — sell ANZ." Aitken found himself being shown the door by Bell Potter founder Colin Bell. Aitken, who was earning up to A$4 million including bonuses at Bell Potter, is seeking damages for economic loss. He is also claiming aggravated damages, saying it was hypocritical of ANZ to accuse him of sexism when it itself faced allegations of misogynist comments and strip clubs as exposed in the ANZ traders scandal. One of the central questions to be decided in the case is whether ANZ chief executive officer Shayne Elliott pressured Colin Bell to remove Aitken. The Australian, citing "court documents", reports that Elliott was told by the Bell Potter boss that the frank assessment of the bank's incoming chief financial officer was "the last straw" for even their star broker. The AFR, in further comments on the Aitken v ANZ case, notes that, in a defence filed in the NSW Supreme Court on Tuesday, ANZ said Bell Potter chairman Colin Bell had already decided to "deal with" Mr Aitken by the time ANZ's chief executive Shayne Elliott called him about a much more mundane matter: his attendance at a breakfast briefing. ANZ also deny that a controversial tweet by communication boss Edwards accusing  Aitken of sexism was posted under the direction of Elliott. In their defence, cited by The Australian, ANZ say they were only made aware that Aitken was "aggrieved" by the tweet "upon receipt of a letter from the plaintiff's solicitor" on May 26. ANZ claim that on June 24 they attempted to "make amends in respect of the first further tweets and the second further tweets," with Mr Aitken rejecting the settlement offer made by the bank. The case continues.

I'm a returning subscriber

*
Password reset *
Login

Request a free trial

  • Emailing you the news at 7am.
  • Covering core lending and funding issues, strategy, payments, regulation, risk management, IT, marketing and more.
  • Original news and summaries of major stories from other media – ditch your newspaper subscriptions.
  • Focused on banking and finance, saving you the time spent wading through newspapers and other services.
  • With reporting from former editors and senior writers from the AFR and The Australian.
  • Configured for your phone, laptop and PC.
Free trial Banking Day
Stay Ahead. Stay Informed.
Concise. Candid. Provocative.
Get the daily banking news that matters
Banking Day – Your trusted source for independent financial insights.
Subscribe Now

Consumer lending

  • Latitude, Harvey Norman liable for interest free GO card con

Copyright © WorkDay Media 2003-2025.

Banking Day is a WorkDay Media publication

WorkDay Media Unit Trust

  • Privacy policy
  • Terms of access and use