Chatty, bonehead banker out of job
Rob Domanko, the senior banker at HSBC who embarrassed his bank and a client when he was caught openly chatting about a quid pro quo transaction, quietly left the bank on Wednesday, The Post has learned.
Domanko, who had headed up the bank’s equity derivatives program since May 2012, advised his traders to sweeten a deal for a client — but not too much — because HSBC was already likely to win its business, according to a transcript of a private Instant Bloomberg chat obtained by The Post, which last year reported the incident.
Domanko’s job went to Chris Rosen, a managing director in equity sales.
The chatty banker was confident of winning the deal because a colleague had gotten an internship for the son of one of the client’s executives.
In the Dec. 16, 2013, chat, Domanko told his subordinates to lower the price of a deal by just a few basis points, or as little as 0.02 percentage points, according to the transcript of the chat.
After one banker asks why they should give the client such a little break, Domanko gives his colleague the unvarnished truth: “to look competitive … maybe he gives it to us if we are close but not the best price..jenn spent 2months helping the clients son get an internship,” he wrote.
“Chance he gives to us if close, but not best offer,” he went on.
“So, even a few bps would help,” he said, referring to the basis points.
The blunt answer was met with immediate derision and scorn by his underlings. “Amazing,” another banker replied. “Are you kidding meonthat helping the clients son get an internship?” wrote another. It is not clear whether HSBCended up winning the client’s business.
“Howcan you write that in an IB chat?” asked a third.
“The internship wasn’t at hsbc,” Domanko replied. “she mentored him…”
“We investigated this incident thoroughly and found that the HSBC employee’s contacts with the individual seeking an internship were handled appropriately and according to HSBC policy,” Rob Sherman, an HSBC spokesman, told The Post.