We’ve probably all lied on our CV a little bit. We probably haven’t made up an entire job title. And we definitely haven’t had one made up for us by our employer. A German court has ruled that that hits different.

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Morgan Stanley accused of duping ECB by creating token job title

A senior banker says Morgan Stanley manufactured his job title ($) to trick European regulators into thinking the bank had moved senior staff to Frankfurt to comply with post-Brexit rules. The banker was given the title of ‘head of loan trading’, but told a Frankfurt court he was told early on not to use the title actively.

Since Brexit, the European Central Bank has pushed international banks to manage their EU business from inside the bloc rather than relying on decision makers in London. In a court case on the matter, judges rejected Morgan Stanley’s argument that the banker had been a ‘material risk-taker’ in its Frankfurt office.

The verdict doesn’t name the bank, but the FT reports that it was Morgan Stanley. The bank unsuccessfully argued that the employee called himself ‘head of loan trading’ on his LinkedIn profile and pointed to at least one occasion when he used it as a conference panellist.

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