Consultants’ markets team review clears NAB over harassment claims

NAB’s markets team is caring and supportive according to a report commissioned by the bank, after it was hit with court action claiming bullying.

A consultants’ report has cleared NAB staff of any wrongdoing. Picture: John Gass

A team of consultants has found National Australia Bank’s markets division to be “friendly, inclusive, fair, caring, and supportive” following claims by former repo trader Dikele Diawara that she was subjected to years of bullying and harassment.

The move clears the way for the markets team as NAB’s bonus season, set to begin on September 30 approaches and ahead of the bank’s full-year results announcement on November 9.

But bank insiders have questioned whether allegations raised against senior management will be considered when determining end-of-year handouts.

NAB put its markets division under review after Ms Diawara’s claims were brought against the bank in Federal Court filings and a former member of the team launched a salvo at management over the culture within the team.

In court filings, Ms Diawara claimed the markets team had a “boys club culture” and the bank had failed to act despite her raising complaints of bullying and harassment repeatedly with senior management.

Dikele Diawara claimed the bank had failed to address her harassment claims.

Ms Diawara also claims the bank paid her less than her male peers and did nothing to address her exclusion from the trading team, despite her raising complaints.

Ms Diawara alleges, among other incidents, she was threatened with a “novelty” baseball bat by NAB head of trading Tim McCaughey – something NAB has denied.

Ms Diawara alleges Mr McCaughey humiliated her in 2020 while she was giving a presentation to senior NAB staff and interrupted her, “expressing in an aggressive tone, in front of those present, that the presentation was poor”.

Ms Diawara alleges when she complained to NAB head of global repo David Bateman about her treatment and intentions to file a complaint against Mr McCaughey she was allegedly told “such a complaint could have big consequences for her future given she was a woman with a leadership position in financial services”.

But a team of external investigators brought in by the bank has cleared NAB’s markets team in a report which has been circulated to management.

The investigators interviewed a number of members of the markets team, in a move some within the team told The Australian felt more directed at responding to Ms Diawara’s allegations than addressing the cultural issues raised.

The Australian has previously reported NAB’s markets team has had a number of staff exits in recent years

NAB declined to release the report or a summary of its findings and did not reveal if group chief executive Ross McEwan was privy to its findings.

NAB directed The Australian to an email circulated by NAB group executive corporate and institutional banking David Gall on August 25, in which he welcomed the findings of the review.

This came after Mr Gall addressed all staff during a “town hall” meeting.

Mr Gall told staff in the email that the review, along with previous heartbeat results and “insights from the whistleblower program”, showed the markets team was “friendly” and one where “people of different genders and background are respected”.

The Australian is aware of a whistleblower who supported Ms Diawara’s claims but was not contacted by NAB over the claims, as he had exited from the business.

The Australian has also revealed senior managers within NAB’s markets team were instructing staff to report overly positive responses to workplace surveys to avoid “making us look bad”.

NAB group chief executive Ross McEwan. Picture: Bloomberg

This resulted in Mr McEwan telling NAB’s staff the messages were “so disappointing”, warning of consequences for “anyone who acts dishonestly”.

In his email to staff, Mr Gall said there “are also some areas where we must continue to raise the bar”.

“These include focusing on making sure everyone feels equal across all levels of the markets team, recognising and supporting our differences, and ensuring all colleagues continue to feel supported at all times,” he said.

“We also identified the opportunity trading, sales and compliance teams have to work more effectively together, and we’ll continue to focus on recruiting diverse skill sets and backgrounds when we replace roles.”

Mr Gall addressed NAB’s case with Ms Diawara, which went to a mediation on September 1 but is still unresolved, telling staff the bank denied all the allegations “made against NAB and our colleagues”.

“As the matter remains before the court, it is not appropriate that we respond to all media questions but please be assured we are defending all the allegations which have been made against us,” he said.

“We take these matters extremely seriously. I reiterate that NAB takes a zero-tolerance approach to all forms of discrimination and we are deeply committed to supporting equality and diversity in the workplace. Any discrimination is not tolerated.”

Mr Gall declined to be interviewed, but offered a statement noting the bank was “committed to supporting equality and diversity in the workplace”.