Big Dog given £50m ‘good­bye’ by Bar­clays

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

STAR Bar­clays banker Roger Jenk­ins was handed a £50m pay­off when he left in the wake of the fi­nan­cial cri­sis, a court has heard.

Known as “Big Dog” by some of his col­leagues, Mr Jenk­ins was viewed as the gate­keeper to Bar­clays’ re­la­tion­ship with Qatari in­vestors and played a cru­cial role in se­cur­ing their cash for a 2008 deal that saved the lender from a state bailout.

Mr Jenk­ins’ bumper golden good­bye was in ad­di­tion to his an­nual pay of about £39m, mean­ing the banker would have been handed al­most £80m, a year af­ter the crash sent the global econ­omy tank­ing.

De­tails of his exit pack­age were dis­cussed in court as part of a case brought by fi­nancier Amanda Stave­ley, who claims she was treated un­fairly when rep­re­sent­ing Abu Dhabi in­vestors dur­ing the res­cue and is su­ing Bar­clays for £1.6bn.

It emerged last week that Mr Jenk­ins, who co-hosted a lav­ish char­ity party with ac­tor Ge­orge Clooney at his £30m May­fair man­sion just af­ter se­cur­ing the Qatari funds, had re­ferred to her as “the tart” and “that dolly-bird” while dis­cussing the cash in­jec­tion with a col­league at the time.

Ms Stave­ley’s client Sheikh Man­sour bin Zayed Al Nahyan be­came the bank’s largest share­holder af­ter con­tribut­ing £3.5bn to the res­cue deal.

For­mer Bar­clays chief ex­ec­u­tive John Var­ley said ear­lier in the trial that Ms Stave­ley’s firm was greatly over­stat­ing its role in the res­cue 12 years ago. It kept Bar­clays out of tax­payer hands, un­like ma­jor UK ri­vals.

The case con­tin­ues.

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