Bloomberg News reports that the trader, Omar Elmi, lost his job as head of equity derivatives in Switzerland, Belgium and Luxembourg in 2019 after being accused of “emotional terrorism.” The reason for that was the explosion of anger on the trading floor. Alami described a merchant in front of his colleagues as evading and incompetent after he made a mistake that cost the bank eight tons.
Colleagues later stated that this tantrum was not an isolated incident. The banker was accused of emotional terrorism. One team member expressed feelings of waterboarding (a torture method in which you feel like you’re drowning, ed.) due to scientific behaviour, BNP Paribas’ attorney Aurelie Fournier said during the hearing in Paris.
During the lawsuit, the fired banker stated that his behavior was not that bad. His response to a subordinate’s alleged costly mistake was “vital,” but he was not humiliating, humiliating, or aggressive. And he denounced the statements of his other colleagues that led to his resignation at the time, because it was an unknown source. The banker argued that this was why it was difficult for him to contradict them.
Improve your communication style
His lawyer added that other colleagues described the banker as friendly. Also, during interviews with the performer, nothing was ever mentioned about his alleged aggressiveness, according to reports. However, the guy was offered training to improve his “communication style”.
The bank, in turn, believes that it should protect other employees from El Alami. Disrespectful behavior is not tolerated, and the bank wants to prevent employees from being intimidated or discriminated against. Attorney Fournier points out that it is quite unusual for stock traders to complain about CEO behavior. Some had been sick for weeks when they finally rang the bell. They did not dare to do so until after months of humiliation.
Paradoxically, the alleged mistake that would have cost the bank eight tons and which caused Alami’s ire so much, turned out not to be an extravagant mistake at all, but a false alarm, the bank’s lawyer asserts. So the outburst of anger was based on nothing.
Elmi was earning around 1.2 million euros annually at BNP Paribas while living in Paris. He found another job within a year of being sacked in Switzerland. But because he now claims to earn 60% less and spend 60% less time with his family, he still wants about $4 million in compensation from BNP Paribas. The judge is expected to issue his decision on May 17.
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