Former Barclays chief to give evidence in £1.6 billion claim over ‘secret payments’ to Qatar

A former chief executive of Barclays Bank will give evidence in a £1.6 billion (Dh7.17bn) legal battle over “secret” payments made to Qatar – a year after he was cleared of any criminal wrongdoing connected to the 2008 deal.

John Varley, who led Barclays from 2004 to 2010, is due to appear as a witness on behalf of the bank in a legal claim brought by financier Amanda Staveley.

Ms Staveley’s PCP Capital Partners says the bank lied to other Gulf investors about larger commission payments to Qatar for investments during the 2008 financial crisis that staved off a government takeover.

Barclays denies giving Qatar secret commissions, saying it was paid extra for providing introductions and other business services.

The bank’s former investment chief for the Middle East, Roger Jenkins, is also due to give evidence in a case that is expected to start next month and run for two months.

While charges against Mr Varley were dropped because of insufficient evidence, Mr Jenkins stood trial with two other senior bankers after an eightyear investigation by the UK’s Serious Fraud Office.

The three men were accused of involvement in a plot to funnel £322 million in secret payments to Qatar in return for £4bn of rescue funding.

In February, the three men were acquitted of fraud, clearing the way for the civil case.

Mr Varley and Mr Jenkins played key roles in negotiations with Qatar, which was led by Sheikh Hamad Al Thani, the prime minister at the time.

Last Friday, a judge was told during a hearing conducted via video call due to the coronavirus outbreak that Mr Varley, Mr Jenkins and Ms Staveley would give evidence in person at London’s High Court.

Justice David Waksman said a decision about who could give evidence by video would be made closer to the trial.