Stave­ley was called ‘tart’ by top bankers

The Daily Telegraph - Business - - Front Page - By Lucy Bur­ton

TOP Bar­clays bankers dis­missed fi­nancier Amanda Stave­ley as a light­weight “dolly-bird” and called her “the tart” dur­ing a 2008 fundrais­ing, the High Court has heard.

Roger Jenk­ins, the for­mer in­vest­ment bank­ing chief, re­peat­edly re­ferred to Ms Stave­ley as “the tart” while dis­cussing a cru­cial cash in­jec­tion into the bank with his col­league Richard Boath at the height of the fi­nan­cial cri­sis. On the same call, the pair both re­ferred to her as “that dolly-bird” when try­ing to re­mem­ber her name, ac­cord­ing to a tran­script.

Mr Jenk­ins – once thought to be the best paid banker in Bri­tain af­ter al­legedly be­ing paid £40m be­tween 2005 and 2009 – said: “I can han­dle dolly-birds.”

Ms Stave­ley’s client, Abu Dhabi royal Sheikh Man­sour bin Zayed Al Nahyan, be­came the bank’s largest share­holder af­ter con­tribut­ing £3.5bn to the res­cue deal. She is su­ing Bar­clays for £1.6bn over claims that Sheikh Man­sour and her firm PCP Cap­i­tal Part­ners were un­fairly treated.

Joe Smouha QC, the fi­nancier’s bar­ris­ter, said ear­lier in the trial that her case would lay bare the “pre-global fi­nan­cial cri­sis ar­ro­gance” of the bank­ing in­dus­try, where the fo­cus was on bonuses, money and “un­for­tu­nately also sex­ism and misog­yny”.

John Var­ley, the for­mer Bar­clays boss, last week said Ms Stave­ley’s firm was greatly over­stat­ing its role in the res­cue 12 years ago, which kept Bar­clays out of tax­payer hands as ri­vals Lloyds and Royal Bank of Scot­land were forced to beg the govern­ment for mas­sive bailouts.

Giv­ing ev­i­dence to the High Court, Mr Var­ley said PCP was a “lit­tle-known party with un­known fi­nan­cial re­sources and no track record as an in­vestor in the pub­lic mar­kets”.

Mr Jenk­ins also dis­missed Ms Stave­ley’s cre­den­tials yes­ter­day, say­ing in his wit­ness state­ment that he would have re­mem­bered if she had asked to join the bank as a di­rec­tor.

She would not have been con­sid­ered qual­i­fied to sit on the Bar­clays board as it “was made up of very highly qual­i­fied, ex­pe­ri­enced and im­pres­sive in­di­vid­u­als”, he said.

The case con­tin­ues.

Amanda Stave­ley is su­ing Bar­clays for £1.6bn over claims of un­fair treat­ment by the bank

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