Staveley was called ‘tart’ by top bankers
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