CITIGROUP found itself caught in a food fight yesterday after it emerged it had suspended one of its most senior London-based bond traders over accusations of stealing from the office canteen.

Paras Shah abruptly left his post as head of Citi's European, Middle Eastern and African high-yield bond trading division last month.

The Financial Times reported that the bank suspended Shah after alleging he had stolen food from the canteen at its Canary Wharf offices, citing four sources familiar with the matter.

Shah was one of the highestprofile traders in Europe's junk bond market. He joined Citigroup in 2017 after spending more than six years as a trader at HSBC.

According to his Linkedin profile, he holds a degree in economics from the University of Bath and joined HSBC after graduating in 2010.

British financial institutions and regulators have previously taken a tough stance on City executives alleged to have engaged in personal misconduct.

In 2016, Japan's Mizuho Bank fired a London trader after he was caught taking a £5 chain-guard from a colleague's bicycle.

Marius Caracota said he had taken the accessory because he thought it was his own and sued the bank over his dismissal, but lost the case last year.

In another celebrated case, a Blackrock executive was banned from holding senior City roles after he was found to have repeatedly dodged train fares on his commute into the Square Mile.

Jonathan Burrows settled the case after the extent of the evasion became clear.

Citigroup declined to comment on the story. Shah could not be reached for comment.

(c) 2020 City A.M., source Newspaper