UBS Traders Suspended, May Be Fired After "Physical Fight" On The Floor

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Earlier this week in Sydney, the head of UBS's institutional sales desk, George Kanaan, and executive director Mark Fitzgerald were "sent home" after a gentle shove by Kanaan in Fitzgerald's direction "quickly escalated," with the two being separated by colleagues. They were told to leave the building immediately and have not been allowed back since Tuesday.

Today Kanaan and Fitzgerald, who have "known and worked with each other in financial and trading circles for the past 15 years," will be told whether or not they still have jobs. More important however, is determining how the fight got started. Supposedly the altercation "broke out over the handling of a line of stock during the trading session" but is that cause for punching someone? Seems like there must be a little more to this thing. According to an email thread about the incident, "Kanaan started it and Fitzgerald finished it...Obviously the PA they likely employed last week was hotter than they thought!" Not really sure what that means though it sounds like perhaps a lady was part of the dispute. Anyway! Your speculation is welcome at this time.

UBS Probes Trading Room Scrap [Australian]

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