Former broker at ICAP Plc
Nicknames: Noggin, Big Nose
Well-spoken and polite, Read was the best educated of the brokers on trial, securing a degree in zoology from the University of Liverpool. He entered the world of broking in the 1980s through a rugby club connection and worked alongside fellow defendants Danny Wilkinson and Colin Goodman throughout his career. In 2007, he moved with his family to New Zealand where he could service Tokyo-based Tom Hayes in the same time zone. By then Hayes was his only client. Hayes respected Read’s knowledge of the markets and the two men became close friends and confidants, meeting up whenever they were in the same country.
Read, who dealt in derivatives, was accused of being the conduit between Hayes and Goodman. Read routinely sent Hayes’s requests for higher and lower yen Libors via instant messages and texts to Goodman, who, prosecutors said, adjusted his daily Libor prediction e-mail accordingly. Read acknowledged he passed on the requests, but said it was part of an elaborate ruse since everyone at the firm knew Goodman only ever sent out his genuine views.