Chief quizzed over scandal
The boss of Barclays has faced fresh questions over the bank’s whisteblowing scandal, according to reports.
It is also believed the lender’s whistleblowing chief is to step down.
Chief executive Jes Staley was reportedly quizzed last week by both the Financial Conduct Authority (FCA) and the Bank of England’s Prudential Regulation Authority (PRA) following an initial interview in July over his attempts to root out a whistleblower.
Jonathan Cox, the bank’s global head of whistleblowing, is thought likely to leave after withdrawing an employment lawsuit against the lender for alleged rule breaches.
Mr Cox, a former Metropolitan Police detective inspector, is understood to have withdrawn his employment case, slated for September 13 at the East London Tribunal.
“Issued Mr Staley with a formal written reprimand”
The FCA and PRA are investigating Mr Staley’s conduct and senior manager responsibilities relating to the lender’s whistleblowing programme.
Anonymous letters sent to the board and an executive last year raised concerns about a newly-recruited senior employee and Mr Staley’s role in the recruitment.
Having been given a copy of the first letter and made aware of a second, Mr Staley initially requested Barclays’ information security team try to identify the authors of the letters as he considered they were an “unfair personal attack” on the employee.
Barclays has issued Mr Staley with a formal written reprimand, and may make a “very significant compensation adjustment” to his bonus. The amount will be decided once the FCA and PRA investigations are over.