Frank Maher commences a series of articles on rogue partners & employees
This is the first of three articles on practical problems caused by rogue partners and employees. This will look at what we mean by rogues. The second will look at how we find them. The final one will look at practical steps you need to take if you have the misfortune to find one, and some which you may usefully consider before you have such misfortune.
Cognitive bias
It is easy to think it does not apply to you—you trust your people and someone stealing from client or office account is not going to happen. Cognitive bias makes people believe it will happen only to others and not to themselves.
However, there are two answers to this. First, we are not only looking at people who steal money, but anyone whose failure to comply with your standards and rules may threaten the fabric of the firm. Second, whether you take the narrow (theft from client or office account) definition of a rogue, or the wider one, most large firms,
