Bloomberg: Headhunter Said to Use Fake Identities to Dupe Wall Street Traders
Traders at some of the world's biggest banks have allegedly been misled by cold callers dangling the prospect of jobs at the likes of Goldman Sachs Group Inc. and Morgan Stanley in exchange for details about their salaries, the make-up of their teams and even their desk’s confidential profit and loss statements. But often the jobs don’t exist. Neither does the named caller. Even their supposed employer — firms like Omertion Group or AMO Search — aren’t real.
Instead, the calls have been made by staff at Odin Partners — a recruitment and market intelligence firm — according to documents seen by Bloomberg and 10 people familiar with the matter, who asked not to be named given the sensitivity of the subject.
As recently as last year, Odin staff contacted bankers using a process known inside the recruitment firm as “rusing,” according to documents seen by Bloomberg. The word, dating back to the 1500s, is defined as an action intended to mislead or deceive. The company uses the information gleaned from calls to unsuspecting bankers and traders as part of what it calls its “market mapping” of the key players trading in some of the world’s biggest asset classes from rates to currencies.
Data obtained through rusing was used as part of regular Odin presentations to clients offering detailed analysis of competitors’ trading desk performance, according to multiple people familiar with the matter.
Former Odin staff who spoke to Bloomberg painted a picture of a systematic effort to gain information by deliberately misleading traders. One person said they felt guilty about what they had done when traders would go away and discuss the non-existent positions with their partners or families and begin to make plans based on a fake job offer.
Based on the most helpful WSO content, here are some relevant points related to the topic of fake identities and misleading practices in the finance industry:
Fake Internships and Positions:
Fake LinkedIn Accounts:
Faking Diversity:
Bluffing Job Offers:
Fake IDs:
These examples highlight the prevalence of deceptive practices in the finance industry, from fabricating resumes to creating fake identities and job offers.
Sources: https://www.wallstreetoasis.com/forum/job-search/bluffing-a-job-offer?customgpt=1, OfficeHours Fake Employee LinkedIn, Numerous Candidates from IU Kelley Lying about Diversity Recruiting, Stories about faking diversity?, A friend of mine cheated and got an Internship offer at a BB IB
This should be everywhere with way more publicity.
What a disgrace !
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