The former boss of Barclays, who lost his job over a financial market-fixing scandal, said Wednesday that a Bank of England official had not encouraged him to report false data at the height of the credit crunch in 2008.
Barclays paid out billions of pounds in currency market manipulation litigation costs in 2014 as well as more for dealing with a number of retail investor mis-selling scandals. But Barclays' leaders are still pretty happy with themselves. In fact, chief executive Antony Jenkins is so chipper about the results, he will take his first bonus as leader of the bank since 2012. His bonus is £1.1 million.
LONDON — Barclays Chairman John McFarlane has fired the British bank’s chief executive after he had lost the support of non-executive directors in a clash over style and the pace of the bank’s turnaround.
The move comes just three months after McFarlane joined the bank and three years after Antony Jenkins was promoted to CEO, having been the bank’s retail chief. McFarlane, who had signaled his intention to speed up its turnaround efforts when he took the post in April, will assume executive duties until a permanent successor is appointed.
"We can't come out of this with a shadow of doubt about the integrity of the Bank of England," Governor Mark Carney told MPs this morning on the heels of the report, as we noted here, that found no collusion by the bank to manipulate FX rates.
Robert E. Diamond Jr. is the latest casualty of Barclays' problems. His departure comes a day after the chairman said he'd step down and hours before the chief operating officer left.NEW YORK — Barclays' rate-fixing scandal claimed its biggest casualty so far: Chief Executive Robert E.
Equity futures sharply reversed an overnight pullback on a pair of central bank actions, one in China, the other an agreement between the US and Europe.
China Cuts Bank Reserve Ratios by .5 Percentage Points
The Wall Street Journal reports China Cuts Reserve-Requirement Ratio
Barclays CEO, Bob Diamond, announced Tuesday that he was stepping down, making him the latest victim of an interest rate-fixing scandal that has already seen the British bank charged with $453 million (360 million euros) in fines.