A former trader accused of rigging the market says being a vice president at Barclays is like working at McDonald’s

Carlo Palombo. Reuters / Peter Nicholls


To most people, rising to the rank of vice president at a major financial firm is an immense accomplishment — a rare feat that just a small number of people ever achieve.

But some don’t get the fuss, and Carlo Palombo is among them.

The ex-Barclays trader is currently on trial amid accusations that he rigged benchmark interest rates. Speaking in court on Thursday during his second day of testimony, Palombo said being a VP at Barclays is “the equivalent to the guy that serves you in McDonald’s,” according to a Bloomberg report.

Palombo’s tone-deaf comments came as he tried to downplay his seniority at the firm.

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