Marex broker probed after expletive-laden audio of threat at counterpart spreads across City

A London-based commodities broker at Marex Spectron is the subject of an internal investigation after an expletive-laden audio recording of him threatening a counterpart over the terms of a deal circulated widely in the City and on WhatsApp groups.

In the recording, which media reports say has been shared across the Square Mile, the broker, identified as Danny Fenn, can be heard in a heated exchange with Bart Pratt, head of the fuel desk at Onyx Capital. Pratt accuses Fenn of making a "cy comment," and the conversation escalates with Fenn repeatedly using profanity and saying he would "rip that c's head off" as colleagues in the background seek to calm him.

A Marex spokesman said the firm "holds ourselves to the highest professional standards – and therefore consider the behaviour in the recording inappropriate and unacceptable." The spokesman added that the broker had apologised to his counterpart and that the apology had been accepted, and that the firm was reviewing the incident to determine whether disciplinary action is appropriate.

Marex, the New York-listed parent of Marex Spectron, is valued at about $2.5 billion and operates more than 40 offices worldwide. The exchange of messages and the audio clip were first reported by media outlets covering the City financial community.

The episode is not the first time Fenn has attracted scrutiny. In 2017 an employment tribunal examined a dispute between Fenn, who was the claimant's boss at the time, and a trader, Sebastian France, over alleged verbal abuse and a £50,000 bonus. Spectron admitted to the tribunal that France was unfairly dismissed because of the verbal insults and abuse, and the tribunal record cited repeated derogatory language used by Fenn toward the employee.

A separate incident in 2018 reportedly involved an altercation with ticket inspectors at London’s Liverpool Street station; police charges related to that episode were later said to have been dropped.

In the latest recording, Pratt can be heard declining to meet Fenn, saying the other man "sounds f****** furious" before the audio ends. Colleagues are audible attempting to de-escalate the confrontation as Fenn challenges Pratt to take the dispute face to face and suggests meeting during lunchtime.

Marex said it had been made aware of the recording and reiterated that it was reviewing the matter. The firm declined further comment while the review is under way. Onyx Capital did not immediately respond to requests for comment.

The investigation comes amid heightened sensitivity within financial services firms about conduct and workplace culture following a series of high-profile misconduct cases. Marex's review will determine whether the behaviour breaches internal rules and what disciplinary measures, if any, are warranted.