Aitken note ‘the last straw’ for Bell, court documents say

Court documents reveal Bell Potter told ANZ’s chief executive that Angus Aitken’s infamous note was “the last straw”.

ANZ chief executive Shayne Elliott was told by Bell Potter boss Colin Bell that Angus Aitken’s assessment of the bank’s incoming chief financial officer was “the last straw” for the star broker, court documents allege.

Former Bell Potter stock broker Mr Aitken is suing ANZ, its chief executive Shayne Elliott and its communications boss Paul Edwards for defamation, intimidation and misleading and deceptive conduct.

The move follows Mr Aitken’s departure from Bell Potter in late May following a controversial note sent to 70 clients, where he described incoming ANZ chief ­financial officer Michelle Jablko as one “of the dumber appointments I have seen”, saying this was another reason “not to own this stock — Sell ANZ”.

Mr Aitken left Bell Potter after ANZ communications chief Paul Edwards responded his note with a tweet saying “sexism alive + well in stock­broking?”.

In its defence filed in the NSW Supreme Court ANZ, alleged it was Bell who volunteered the comment about Aitken’s behaviour and told Elliot it was “the last straw” and he “would deal with this.”

“Upon answering the call, Mr Bell said he knew what Elliott was calling about; that he could not believe it had happened; that it was the last straw; and that he would deal with it,” the defence filed in the NSW Supreme court alleges.

ANZ admits allegations that Mr Elliott rang Mr Bell the evening Mr Aitken’s note was sent but denied he demanded Mr Aitken be sacked, claiming he had rang Mr Bell to say he was attending a Bell breakfast briefing the following day and “respected” Aitken’s right to comment.

“Elliott said that he respected the plaintiff’s right to comment and the plaintiff is entitled to say what he liked; that he may not like how he said it but that was not the reason for his call; and that the reason for his call was that he was scheduled to present at a breakfast briefing at Bell Potter that Friday and had decided that he would attend.

“Mr Bell thanked Elliott and said that he was going to speak to Bell Potter’s Managing Director, Alistair Provan, and “deal with this”; and Elliott said that it was a matter for Mr Bell, and that he was simply ringing to reassure Mr Bell that he would be there on Friday,” the statement claims.

ANZ has also denied that Mr Elliott directed Mr Edwards to send the tweet and that “Elliott had no prior knowledge of Edwards’ intention to send the first tweet.”

In his statement of claim Mr Aitken alleged Bell had no choice but to “bow to pressure” being applied by ANZ because of charges the bank held over Bell Potter assets “and two major transactions between Bell Potter and ANZ then in progress”.

Emails show that Mr Bell chastised Mr Aitken that evening for sending the note.

“Jesus Gus. I love your radical honesty but you put me to the test today; your ANZ comment was like you teed up my nuts and had a full swing with your driver,” Mr Bell wrote at 9.13pm on May 24.

Mr Aitken says the tweet and phone call amounted to a “campaign” to have him sacked.