Kweku Adoboli warns on banking culture

    STARR 103.5 FM

Business News of Monday, 12 September 2016

Source: BBC.com

2016-09-12

Kweku AdoboliKweku Adoboli

Kweku Adoboli was a successful young trader for the Swiss Bank UBS based in London when his world fell apart in 2011.

In a series of disastrous trades, many hidden from view, he ran up losses totalling a staggering $2.3bn (£1.74bn) and almost brought down his bank.

He was eventually imprisoned for almost four years for fraud and is now facing possible deportation to Ghana.

Adoboli maintains he wasn’t motivated by greed but that the system put unbearable pressures on him to make big returns.

He warns that the culture of the banking industry means it is inevitable that another trader will go rogue.

About ghanamma

Leave a Reply