Ex-Citigroup Trader Was ‘Cannon Fodder’ on Maternity Leave
- McWilliams claims traders were encouraged to share information
- Ex-trader pursues tribunal case in London after firing
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A former Citigroup Inc. foreign-exchange trader who was suspended while on maternity leave said she was "easy cannon fodder" for the bank as it tried to appease regulators amid a probe into market manipulation.
Carly McWilliams told an employment tribunal in London Thursday that the bank enforced impossible standards of perfection to retrospectively condemn practices it had encouraged in the past, such as sharing confidential client orders with traders at other firms. Executives from Citigroup testified that traders were encouraged to build relationships with rivals, but were forbidden from sharing information relating to orders. She worked on the spot trading desk for 14 years.