Broker Moons Bosses; Sues to Get His Job Back

Posted by adaniels in Blog on September 10, 2012

Would you end a contentious meeting with your supervisors by mooning them? And then expect to keep your job – and get a big bonus? That’s what happened with Bank of America broker Jason Selch. Here Is the City has the story.

Selch worked for Wagner Asset Management in Chicago. In 2005, the company merged with Columbia Asset Management, which is a subsidiary of BofA. Selch was reportedly concerned that his compensation package would change, and he was upset that his friend and co-worker Chris O’Dea was fired after balking at a change in his own compensation package. So Selch burst into the office where Columbia execs were meeting and asked if he had a non-compete clause, a query which indicated that he could go work for the competition. Then Selch dropped trou, mooned the executives, told them to never come back to Chicago, and left the room.

The second-most shocking thing about this case, besides the fact the Selch mooned the bigwigs, is that his immediate supervisor fought to keep him on with only a warning, and briefly succeeded.  But the boss was overruled by Brian Banks, CEO of Columbia, who said that what Selch did was too “egregious” to keep him on.

Selch then sued to get his job back, and to get a bonus he missed out on that would have vested if he has survived at the job, arguing that firing him after giving him a warning was a break of contract. A federal appeals panel recently dismissed Selch’s claim, saying that his mooning was “insubordinate, disruptive, unruly and abusive.”

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