May 10, 2017

Barclays chief Jes Staley apologises for pursuit of whistleblower

Jes Staley, chief executive of Barclays, has apologised to shareholders for the "Error" he admitted he had made in trying to uncover the identity of a whistleblower. The board has given Mr Staley a formal reprimand and promised to cut his pay by a "Very significant" amount for ordering the bank's security team to try to identify a whistleblower who had made allegations about a recently recruited colleague. Mr McFarlane defended Mr Staley, pointing out the board believed it was dealing with an "External" whistleblower rather than a Barclays employee. Michael Mason-Mahon, a shareholder, asked: "Has the behaviour of the CEO brought nothing but shame on the name of Barclays? For the sake of Barclays plc and its shareholders and its customers, will you behave with honour and resign today?". Another shareholder said: "It beggars belief that Mr Staley was not aware of the whistleblower procedures or was not briefed on them when he joined the bank."

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