Miranda Kerr backed a 'Save Dave' campaign, launched by website Here Is The City News, in support of Macquarie banker David Kiely.
Mr. Kiely faced the sack after a video of him viewing semi-nude images of the Victoria's Secret model while a colleague was being interviewed on live TV appeared on YouTube.
Ms. Kerr, who is the girlfriend of Orlando Bloom, said earlier: "I am told there is a petition to save his job and of course I would sign it."
Mr. Kiely's employer Macquarie has now completed an internal review of the events and says action has been taken.
"He will remain an employee of Macquarie," a statement said. "Macquarie and the employee apologize for any offence that may have been caused."
Mr. Kiley turned around part way through the clip, apparently in surprise, fuelling speculation that he had been the victim of a practical joke.
Channel 10 news aired allegations that he had been set up, with one of the emails containing at the end: "Turn around now."