Mar 5, 2019

Barclays fundraising 'about saving jobs'

Mr Diamond reportedly told a meeting "This is all about saving jobs - mine and John's", referring to then chief executive John Varley. The quote was recalled by former Barclays executive Richard Boath, currently on trial at Southwark Crown Court together with Mr Varley. "What Bob said about saving jobs was that in those circumstances they would have to go," Mr Boath told the SFO in 2016. A recording of Mr Boath's interview was played at the trial of John Varley, Roger Jenkins, Richard Boath and Tom Kolaris. The bank's most senior lawyers, Mark Harding and Judith Shepherd, repeatedly advised that the bank could pay fees for services if it received sufficient value for those services, he told the SFO. Mr Boath described in his SFO interview how he was asked in the first capital raising in June by his senior colleague Roger Jenkins to calculate the size of an additional fee.

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