BrokerDealers Beware: Don’t Blab, Not Even on SnapChat


Lots has been said about bankers and broker-dealers blabbering via social media. The topic has helped to create plenty of compliance department angst across the brokerdealer universe. Now, thanks to the latest DealBreaker snapshot, one that also provides free advertising for social media app SnapChat, the folks here at remind our industry audience: Think twice before you hit the ‘send’ or ‘publish’ button.

The chairman of Royal Bank of Scotland’s investment bank is leaving just weeks after messages he sent to his daughter were revealed, showing he was “bored” at work. Rory Cullinan, the RBS capo used photo-sharing app Snapchat to send images featuring captions that read: “Not a fan of board meetings xx”, “Boring meeting xx” and “Another friggin meeting”. The pictures then ended up being posted on Instagram around Father’s Day last year by the investment banker’s daughter, but only revealed in a national newspaper early this month. Mr Cullinan’s daughter had uploaded the photos with the message: “Happy Father’s Day to the indisputable king of Snapchat.” Mr Cullinan drew heavy criticism for not taking his role seriously.

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