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News: ANZ Banking says former trader drops unfair dismissal lawsuit

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    SYDNEY, July 12 (Reuters) - Australia and New Zealand Banking Group (ANZ) on Tuesday said former trader Etienne Alexiou had withdrawn a lawsuit claiming unfair dismissal, a move the bank said ended all legal action filed by two ex-staffers seeking tens of millions of dollars in compensation amid an internal probe into corporate culture.

    Alexiou was dismissed for what ANZ said were inappropriate and offensive electronic communications. Former bond trader Patrick O'Connor, fired for what the bank said was abuse of a company-issued credit card, dropped his unfair dismissal case earlier this year, ANZ said at the time.

    The Melbourne-based lender said that no money was paid to Alexiou, and each party will meet their own legal costs.

    A lawyer for Alexiou was not immediately reachable for comment.

    "The closure of this (Alexiou) case means all legal action initiated by employees who were dismissed in late 2015 for serious breaches of our Code of Conduct has been withdrawn," ANZ Chief Risk Officer Nigel Williams said in a statement.

    ($1 = 1.3179 Australian dollars)

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