The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksBarclays Share News (BARC)

Share Price Information for Barclays (BARC)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 211.65
Bid: 211.85
Ask: 211.95
Change: 1.30 (0.62%)
Spread: 0.10 (0.047%)
Open: 210.90
High: 213.20
Low: 209.60
Prev. Close: 210.35
BARC Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Barclays executive quits amid claims division is 'out of control'

Mon, 21st Jan 2013 09:11

A Barclays executive has quit amid claims he destroyed an explosive report which labelled the bank 'out of control'.Andrew Tinney, Chief Operating Officer of the bank's private investment division, Barclays Wealth, is accused of shredding the document at his home in Surrey, the Mail on Sunday reported. The document was said to expose a culture of fear, intimidation, bullying and mismanagement at the bank's stockbroking and investment arm, which handles client assets worth £184bn.Tinney initially denied the report ever existed, misleading banking regulators and Barclays Chief Executive Antony Jenkins, who recently took over the reins from disgraced Bob Diamond.He eventually confessed to suppressing the document which led to last week's announcement he had stepped down from his role. Tinney received no pay-off from the bank in order to avoid further damage to the image of Barclays following a number of dramas including the LIBOR rate-fixing scandal under former boss Diamond.However, the bank could be hit by fines of up to millions if it is shown to have ignored banking rules.Tinney told the Mail: "I'm sorry, but I shouldn't be having this conversation with you. Can you speak to the company?"The report, which he tried to cover up in March last year, was written after regulators found 'deficiencies' in the New York division, Barclays Wealth America (BWA). The investigation also illustrated problems at the entire Wealth division, based in London, according to a member of the inquiry team.The document, compiled by consultancy firm Genesis Ventures, read: "The current leadership team have pursued a course of 'revenue at all costs', taken a conscious decision to ignore support functions, reinforced a culture that is high risk and actively hostile to compliance, and ruled with an iron fist to remove any intervention from those who speak up in opposition."Management consciously failed to invest in necessary technology, people and safeguards that it? ?knew it needed, leaving these areas understaffed, under-skilled, under-supported and in disarray."This culture immediately removes anyone who opposes Mitch [BWA managing director Mitch Cox] and his team or who expresses dissent in any way... and prevents any counterbalance to the 'revenue at all costs strategy'."The report is now in the hands of the Financial Services Authority.RD
More News
11 Jan 2024 11:36

UK finance watchdog probes possible motor finance misconduct

LONDON, Jan 11 (Reuters) - Britain's finance watchdog said on Thursday it would start looking into the motor finance industry, amid rising tensions between thousands of consumers and finance providers about commission arrangements.

Read more
11 Jan 2024 09:26

TOP NEWS: Big Yellow rent hike saves revenue from decreased occupancy

(Alliance News) - Big Yellow Group PLC on Thursday said that revenue and lettable area had increased despite occupancy dropping during the "seasonally weaker third quarter".

Read more
10 Jan 2024 17:07

European shares end lower, with miners and travel stocks leading losses

Norway's Dec core inflation lower than expected

*

Read more
10 Jan 2024 13:00

Global activist investors pressed companies to sell or spin in 2023 as M&A dropped off

NEW YORK, Jan 10(Reuters) - "Sell" or "split" was the favorite word for activist investors across the world last year when their demands for companies to pursue some form of mergers and acquisition-related activity hit a new record and appeared in roughly half of their 2023 campaigns even as M&A activity dropped off, according to new data from Barclays.

Read more
9 Jan 2024 07:44

LONDON BRIEFING: B&M to declare special payout; strong start for Unite

(Alliance News) - Stocks in London are tipped for a solid start on Tuesday, following a strong performance on Wall Street and in Asian markets.

Read more
5 Jan 2024 09:50

IN BRIEF: Prudential to buy back 4 million shares to offset awards

Prudential PLC - London-based, Asia-focused life and health insurer and asset manager - Contracts Barclays Capital Securities Ltd, part of Barclays PLC, to conduct a share buyback programme that will repurchase about 3.9 million shares at a maximum cost of GBP38 million. At the current market price, 3.9 million Prudential shares are worth GBP32.3 million. The buybacks are intended to offset the dilution that will be caused by the vesting of awards under Prudential's employee and agent share schemes.

Read more
21 Dec 2023 12:59

Barclays extends lease on Canary Wharf headquarters until 2039

LONDON, Dec 21 (Reuters) - Barclays has signed an agreement with Canary Wharf Group (CWG) to extend the lease on its British headquarters in the financial district until 2039, CWG said on Thursday.

Read more
20 Dec 2023 09:25

LONDON BROKER RATINGS: UBS cuts DS Smith; Kepler likes Genus

(Alliance News) - The following London-listed shares received analyst recommendations Wednesday morning and Tuesday:

Read more
20 Dec 2023 08:48

LONDON MARKET OPEN: Stocks feeling festive on UK, US rate cut hopes

(Alliance News) - Stock in London enjoyed a broad-based rally at Wednesday's open, as a surprise UK inflation print boosted risk sentiment, with investors pinning their hopes on UK and US interest rate cuts next year.

Read more
19 Dec 2023 16:06

UK banks face 'step change' rule to reimburse defrauded customers

LONDON, Dec 19 (Reuters) - Britain's banks and other payment firms must reimburse defrauded customers to a maximum of 415,000 pounds ($529,000) from October next year to help combat scams, the Payment Systems Regulator (PSR) said on Tuesday.

Read more
19 Dec 2023 15:11

UK banks face 'step change' rule to reimburse defrauded customers

LONDON, Dec 19 (Reuters) - Britain's banks must reimburse defrauded customers to a maximum of 415,000 pounds ($529,000) from October next year to help combat scams, the Payment Systems Regulator (PSR) said on Tuesday.

Read more
15 Dec 2023 18:12

Britain's Metro Bank decides not to sell mortgage book

LONDON, Dec 15 (Reuters) - Britain's Metro Bank said on Friday it had abandoned its planned sale of a 3 billion pound ($3.8 billion) mortgage portfolio, citing market conditions.

Read more
14 Dec 2023 12:00

Fnality completes 'world's first' blockchain payments at Bank of England

LONDON, Dec 14 (Reuters) - Fnality, a blockchain-based wholesale payments firm, said on Thursday that shareholders Lloyds Banking Group, Santander and UBS had completed the "world's first" live transactions that digitally represent funds held at a central bank.

Read more
14 Dec 2023 10:51

France's Credit Agricole to stop financing new fossil fuel projects

Vows to triple financing of renewable energy projects by 2030

*

Read more
12 Dec 2023 09:10

UK lenders face smaller impact from Basel rules than rivals, BoE says

LONDON, Dec 12 (Reuters) - The Bank of England said on Tuesday that implementing the final leg of the global Basel bank rules will increase capital requirements at UK banks by 3%, far less than for their European Union and U.S. peers.

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.