) told a court on Wednesday he felt “pressure” after his boss made public comments suggesting imminent prosecutions.
The matter of Australia vs Citi, Deutsche, ANZ and several of their current and former executives is being closely watched by investment bankers around the world because it could have implications on the way they are allowed to run share sales. If found guilty, the banks face hefty fines while the individuals face prison time.
Asked by ANZ’s lawyer, Tim Game, if the comments had created “pressure from above”, Taylor replied: “in general terms, the chairman had been saying, ‘we’ve got a number of criminal cartel investigations...that are nearing completion’.Taylor did not describe the chairman’s comments further. The ACCC has declined to comment on the matter while it is before the court.
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