The head of ANZ Bank in Australia has responded to claims that the bank tolerated a culture of sex, drugs and alcohol.
Two traders at ANZ Bank's Australian operations made the sensational allegations in a A$30 million lawsuit against the bank.
Etienne Alexiou and Patrick O'Connor were sacked for inappropriate or offensive electronic communication. Misuse of a company-issued credit card was also part of the reason behind Mr O'Connor's dismissal.
Mr Alexiou has filed a A$30 million claim against ANZ, which includes an allegation of a senior ANZ markets trader saying a "white substance" found in the male toilet should have been "sprinkled on a birthday cake", according to the Australian Financial Review.
Mr Alexiou claimed the culture on the dealing floor was at odds with the official levels of conduct demanded by the bank.