Jul 13, 2020

Roger Jenkins received £50m exit payout from Barclays

Roger Jenkins received a £50m exit package when he left Barclays in 2009 after being paid £39m in annual pay and bonuses for at least two years in a row, the High Court in London heard on Monday. PCP, which led a parallel fundraising by Abu Dhabi, alleges that Barclays made secret side agreements - known as advisory service agreements - and paid undisclosed fees to Qatar as part of two £4bn cash calls that helped the bank avoid a UK government bailout. Mr Jenkins told the High Court that if Barclays had been bailed out by the UK government, the bank would have been forced to pursue a "Domestic agenda". Mr Smouha QC also accused Mr Jenkins of giving "Made up" evidence to the trial about negotiations with Qatar in October 2008, rather than "Admit that there were no discussions or negotiations with the Qataris of the contents of the second advisory services agreement." Mr Jenkins replied: "It's not true." Mr Jenkins was questioned about whether he had disclosed to Ms Staveley in October 2008 that a $3bn bank loan was being advanced by Barclays to Qatar.

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