The share trading world is eagerly awaiting news on the future of two high profile UBS traders who were allegedly involved in a physical confrontation on the Sydney trading room floor this week.
The firm’s head of institutional sales George Kanaan and executive director Mark Fitzgerald were suspended on Tuesday after what reportedly started as a gentle shove escalated to something more serious
Reports suggest that shocked co-workers were forced to separate the two colleagues, who had worked together for more than 15 years.
News of the incident – and more than a few accompanying jokes – have spread like wildfire throughout the share trading community and into the mainstream media.
The incident highlights how disputes between colleagues can escalate, particularly in high-stress, male-dominated environments.
Grant Brecht, a Sydney clinical and organizational psychologist, says share traders traditionally work long hours and can “develop what we know as a short fuse”.
“The lack of sleep makes anxiety levels high, allowing for irrational decision making which at times can allow emotions to turn into altercations,” he says.
“Not only are males more willing to take risks, they use their power and influence to encourage those around them to do the same.”
Brecht says ego-dominated males are usually less productive.
‘They spend too much time looking after their status, jostling for position and worrying about being the best rather than getting on with the task at hand,” he says.
In terms of dealing with disputes in highly-charged environments Brecht says it’s really a matter of timing.
“If you’re in the heat of the moment, dealing with issues then and there it isn’t going to be productive,” he says.
“Take a walk around the block, grab a cup of tea, take some time to think rationally before you discuss your problems.
“That’s when you get good outcomes and acceptable comprises rather than fights.”
Workplace lawyer Peter Vitale says it is common for blue-collar industries such as manufacturing and construction to have specific policies about workplace behavior and physical violence.
He says policies are likely to be less common in the financial services sector.
“Not many businesses operating in a corporate environment would know what to do, as they wouldn’t expect it to occur,” he says.
Vitale says businesses need to make it clear to staff that physical violence isn’t tolerated and that an all-encompassing policy on dispute resolution is difficult for any company to put in place.
He suggests some managers want to have a certain level of tension and competition between workers.
“Sometimes it’s healthy. It can lead to increased motivation, new ideas generation and innovation,” says Vitale.
