Ex-Barclays banker's sexist comments about Amanda Staveley released
A top City banker questioned whether businesswoman Amanda Staveley was sleeping with Abu Dhabi’s Sheikh Mansour bin Zayed al-Nahyan, calling her “thick as shit” and commenting on the size of her breasts, after she took part in talks to save Barclays from a public bailout in 2008.
The comments by Stephen Jones were detailed in telephone transcripts released by the high court on Thursday and were recorded when he worked in the bank’s investment banking division.
Last month Jones resigned as chief executive of UK Finance – a banking lobby group which represents 250 top banks and finance houses – just weeks before the comments were due to be revealed as part of the court case brought by Staveley over the terms of the emergency fundraising deal.
In the telephone transcripts, dating back to October 2008, Jones describes
Staveley in a conversation with his Barclays colleague, Stephen Morse.
“She used to be Prince Andrew’s girlfriend,” Jones says. “And I believe that in that context, got close to a few sheikhs and she was doing his business ambassador role.”
Jones, who tells Morse he met with Staveley days earlier, adds: “She was fine but she’s clearly someone who [Sheikh] Mansour trusts and uses as, you know, his face with the outside world … Whether she’s sleeping with him, or not, I couldn’t tell you. I doubt it to be honest but anyway … she seems fine.”
Two days later, Jones told Morse that Staveley’s firm PCP Capital Partners was being paid £25m for taking part in the 2008 fundraising deal.
“And she’s thick as shit, as well,” says Jones. “Anyway, there you go. You can’t have everything.”
“Well, you know she dated Prince Andrew,” Morse replies.
“Yeah, that’s it. That’s the one,” says Jones, adding: “She’s got large breasts, so, you know, sorry, I’ll keep my mouth down.”
Morse responds: “It’s okay. Your line’s not taped and neither is mine. I
hope.”
Jones said in June that he had apologised to Staveley and his colleagues for the comments he made in 2008. As he announced his resignation from UK Finance he said: ‘The comments I made at this time are wholly inappropriate. I regret making these comments and I cannot defend them and will not seek to.”
A spokesperson for Jones said on Thursday: “Stephen has been very clear his comments were wholly inappropriate and do not meet the standards of language and behaviour we rightly expect. He regrets making these comments and has not sought to defend them and will not seek to do so.”
The spokesman said Jones was grateful that Staveley had accepted his apology.
Staveley is suing Barclays for up to £1.5bn after her client, Sheikh Mansour bin Zayed al-Nahyan, a member of the Abu Dhabi royal family, invested £3.25bn as part of £11bn emergency fundraising by Barclays at the height of the 2008 financial crisis. She says Barclays secretly offered better terms to its Qatari investors, which meant her firm missed out on higher advisory fees than the £30m it actually received.
Barclays has called the claim “opportunistic and speculative”, and alleges that Staveley exaggerated the importance of her role in securing billions of pounds for the Barclays rescue package.
Staveley has accused Barclays’ top bosses at the time of “sexism and misogyny”. Jones is not the only Barclays banker to have apologised to Staveley – who is leading the potential Saudibacked takeover of the Premier League football club Newcastle United – over sexist comments made public during the court hearing.
According to separate telephone transcripts released by the high court earlier this month, Barclays’ former investment banking chief Roger Jenkins – who was known as “Big Dog” – and the bank’s former head of European
financial institutions division, Richard Boath, referred to Staveley as a “dolly bird,” a “foxy blonde” and a “tart”.
When asked about his use of the word “tart” by a lawyer representing PCP Capital Partners last week, Jenkins said: “I apologise for that.” Jenkins also indicated that he had apologised to Staveley before.
Staveley was in court to hear his apology.
The hearing continues.