Paras Shah: A Banker Earning A Seven Figure Salary Is Suspended For ‘Stealing Sandwiches From The Staff Canteen’
Paras Shah, Banker Of Citigroup Inc. Is Suspended Under Theft Allegation
- Citigroup Credit Trader Paras Shah was suspended following repeated alleged ‘stealing sandwiches from the canteen.’
- Despite earning the seven-digit figure salary, he was caught with the theft allegation.
- Paras Shah, 31 years old, is yet to have a finalized decision.
Earlier month, Paras Shah, one of the most senior bond trader of Citigroup Inc., was suspended for stealing some slice of bread from the cafeteria, the Financial Times reported. It is still unclear how many sandwiches Paras stole, but that’s a lot of cost for a sandwich!!
According to a source, Glassdoor, the average salary of a credit trader is estimated to be around £183,740 ($239 thousand). So, Shah was also reported to be earning in the seven-digit figure.
The bank suspended him after numerous complaints of stealing food from the cafeteria of Citi’s headquarters at Canary Wharf, East London.
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In January 2020, the financial services corporation suspended Mr. Shah from the position of Citigroup’s head of high-yield bond trading for Europe, the Middle East, and Africa last month from the bank amid the allegation.
Citigroup Inc. is an American multinational investment corporation and bank running with the operating cost of $23.445 billion and gaining around $18 billion, as of 2018.
As per a tabloid, Paras Shah graduated from the University of Bath in 2010 with a degree in economics. During his last year, Shah joined the Hong Kong and Shanghai Banking Corporation (HSBC) as a summer analyst.
After seven years, he joined Citigroup Inc. Within only two months, Paras Shah was promoted as the head of the Middle East, Europe, and Africa branch of the company.