For Recruiters
He was using unapproved messaging apps.

Credit Suisse banker fired after 28 years for sending messages

When Anthony Kontoleon left Credit Suisse in late April 2022, Bloomberg said it was because he was off to pursue "other opportunities" and that he'd be taking a bit of time off to figure out his next move. Nearly a month later, Kontoleon is presumably still figuring out his next move, but it seems there was more to his exit than originally reported. 

The Financial Times reports that the trigger for Kontoleon's departure from Credit Suisse after nearly three decades was in fact the use of "unapproved messaging applications with clients." An audit discovered the infringement, but there was no suggestion that "inappropriate information" was being exchanged. The mere fact that personal messaging applications were being used were enough to trigger Kontoleon's exit. 

Kontoleon was global head of equity capital markets syndicate at Credit Suisse. He joined the bank shortly after graduating in 1998 and had been there ever since. It's an ignominious end to a long career, and an exit that may have involved Kontoleon foregoing deferred bonuses awarded in previous years.

Bankers using WhatsApp, Telegram or Signal to chat with clients may want to reconsider their approach. A recent investigation by JPMorgan found that one banker there had sent over 2,400 WhatsApp messages to clients and colleagues over the course of a year.

Christopher Niehaus, the former London head of diversified industrials at Jefferies, resigned after using WhatsApp to communicate with clients who were also friends in 2016. "Psychologically I was just very disappointed with myself for allowing something like this to happen,” he told Financial News in 2020. “It was tough for me — I made a mistake and will make sure it never happens again.”

Click here to create a profile on eFinancialCareers. Make yourself visible to recruiters hiring for top jobs in technology and finance. 

Have a confidential story, tip, or comment you’d like to share? Contact: sbutcher@efinancialcareers.com in the first instance. Whatsapp/Signal/Telegram also available (Telegram: @SarahButcher)

Bear with us if you leave a comment at the bottom of this article: all our comments are moderated by human beings. Sometimes these humans might be asleep, or away from their desks, so it may take a while for your comment to appear. Eventually it will – unless it’s offensive or libelous (in which case it won’t.)

Photo by Mika Baumeister on Unsplash

author-card-avatar
AUTHORSarah Butcher Global Editor
Cancel
  • pb
    pbug56
    18 June 2022

    Huge compliance violation. Should be banned.

  • He
    Headkick
    16 June 2022

    Makes sense

  • Bi
    Biden's illegitimate grandchil
    15 June 2022

    That's a compliance issue and he should have known better.

  • As
    Asahi
    14 June 2022

    Excuses to get rid of employees who lost the power struggle, nothing more.

Apply for jobs

Find thousands of jobs in financial services and technology by signing up to eFinancialCareers today.

Boost your career

Find thousands of job opportunities by signing up to eFinancialCareers today.
Latest Jobs
Credit Flow Trader - London
London, United Kingdom
Berenberg - Joh. Berenberg, Gossler & Co. KG
Kreditanalyst* Firmenkunden
Berenberg - Joh. Berenberg, Gossler & Co. KG
Berlin, Germany
Deutsche Bank AG
Risk Methodology Specialist (m/f/x)
Deutsche Bank AG
Berlin, Germany
Deutsche Bank AG
Senior Java Developer (m/f/x)
Deutsche Bank AG
Berlin, Germany