The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen 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: 205.25
Bid: 205.20
Ask: 205.25
Change: 1.60 (0.79%)
Spread: 0.05 (0.024%)
Open: 202.65
High: 205.30
Low: 202.60
Prev. Close: 203.65
BARC Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

UPDATE 1-UK court identifies Barclays staff named in Libor probe

Fri, 25th Jan 2013 18:46

* Court releases shortlist of names linked to Libor probe

* Lucas, Ricci named on shortlist

* CEO has warned staff to adopt new standards or leave

* Guardian Care Homes suing over alleged mis-selling

By Matt Scuffham

LONDON, Jan 25 (Reuters) - A number of current and pastexecutives at Barclays are on a list of individualsnamed in documents relating to the regulatory investigation intothe Libor rate-rigging scandal, court documents released onFriday showed.

Guardian Care Homes, a residential carehome operator basedin Wolverhampton, England, is suing Barclays for up to 37million pounds ($58 million) in a claim that it was mis-soldinterest rate hedging products which were based on Libor.

The Guardian Care Homes case is the first to link acomplaint over the alleged mis-selling of interest rate swaps tothe investigation into attempts to manipulate Libor and otherbenchmarket interest rates.

The case is already shining a light on those involved in thebank's interest rate-setting process and asking fresh questionsabout the involvement of senior executives in the affair.

On Friday the High Court in London released a list of 25individuals named in regulatory documents concerning the Liborinvestigation which have been lodged with the court and whichrefer to attempts by Barclays to manipulate Libor.

Alongside past executives including former chief executiveBob Diamond, the list features some of the bank's most seniorand high profile figures including Rich Ricci, who heads up theinvestment bank and Finance Director Chris Lucas.

Ricci told UK lawmakers investigating the scandal inNovember that he was originally a witness in the Liborinvestigation by regulators, but was cleared. He was then ableto lead the bank's internal investigation into the affair.

The American, who was one of Diamond's inner circle andhelped build up the investment bank, has been asked by new ChiefExecutive Antony Jenkins to conduct a reputation-based review ofall of Barclays' investment banking activities.

Tim Lord, a lawyer representing Guardian Care Homes, citeddocuments during a preliminary court hearing on Thursdayreferring to communications from the "31st floor" - the part ofBarclays headquarters in Canary Wharf, London, occupied bysenior executives.

The documents referred to "internal political" pressure toset borrowing rates low in a bid to paint a rosier picture ofthe bank's financial health.

"Guidance, if you can call it that, from the 31st floor isthat we don't stick our head above the parapet in anycircumstance," read a November 2007 email by Miles Storey, amanager in Barclays' treasury department.

Judge Julian Flaux told the court the documents "showed somedebate at a fairly high level within the bank".

The list of 25 names mentioned in the documents includedformer chief operating officer Jerry del Missier, formercompliance head Stephen Morse, money markets desk head MarkDearlove and former group treasurer Jon Stone.

The publication of the names followed the release of a widerlist of 104 names on Thursday after the judge rejected a requestthat they remain anonymous during the preliminary hearing forthe case.

The wider list included employees whose email accounts weredisclosed to the regulatory authorities, but it is not suggestedin the regulatory findings that they were implicated in thefixing or manipulation of Libor.

Twenty-four of the 25 had requested anonymity prior topublication of the list - the exception being former Barclaystrader Jay Merchant, who went on to become head of swaps tradingat UBS before leaving his position last August.

Meanwhile Jenkins is due to announce the results of astrategic review of Barclays on Feb. 12. He has already toldstaff to leave if they do not want to sign up to a new set ofstandards aimed at rebuilding the bank's reputation after astring of scandals.

More News
29 Apr 2024 10:02

LONDON BROKER RATINGS: Deutsche Bank likes Frasers; Barclays cuts JD

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

Read more
26 Apr 2024 16:35

London close: Stocks buoyed by banking, mining positivity

(Sharecast News) - London's equity markets closed positively on Friday, buoyed by gains in the banking sector following better-than-expected results from NatWest.

Read more
26 Apr 2024 16:19

European bank stocks at highest since 2015 after earnings boost

STOXX Europe 600 banks index highest since Oct. 2015

*

Read more
26 Apr 2024 09:45

NatWest profit falls less than feared ahead of state escape

First-quarter profit down 27% in competitive market

*

Read more
26 Apr 2024 09:33

LONDON BROKER RATINGS: Peel Hunt cuts ConvaTec to 'reduce'

(Alliance News) - The following London-listed shares received analyst recommendations Friday morning:

Read more
25 Apr 2024 16:57

LONDON MARKET CLOSE: FTSE 100 shakes off red-hot US inflation gauge

(Alliance News) - London's FTSE 100 outperformed on Thursday, enjoying a solid rise on largely well-received corporate earnings and a share price jump for miner Anglo American after it received a takeover bid from peer BHP.

Read more
25 Apr 2024 15:14

London close: Stocks finish mixed as US GDP growth slows

(Sharecast News) - London's stock markets finished with a mixed performance on Thursday, as investors digested a slower-than-expected GDP growth reading from the United States, while a slew of well-received earnings underpinned the top-flight index.

Read more
25 Apr 2024 11:00

Where are Wall Street's analyst notes on Trump's Truth Social?

NEW YORK, April 25 (Reuters) - Trump Media & Technology Group is one of the most actively traded U.S. stocks, yet Wall Street's equity analysts are staying clear.

Read more
25 Apr 2024 09:19

Barclays Q1 profit falls 12% as trading slump hits

Q1 profit of 2.3 bln pounds, just above forecasts

*

Read more
25 Apr 2024 08:36

TOP NEWS: Barclays first quarter profit falls but beats expectations

(Alliance News) - Barclays PLC on Thursday reported a fall in first quarter profits as a weak investment banking performance hindered performance.

Read more
25 Apr 2024 07:56

REPEAT: Miner Anglo American reviews takeover bid from rival BHP

(Alliance News) - Stocks in London are called to open slightly higher, after a busy start to the day, with corporate earnings and updates.

Read more
25 Apr 2024 07:43

LONDON BRIEFING: Miner Anglo American eyes rival BHP takeover

(Alliance News) - Stocks in London are called to open slightly higher, after a busy start to the day, with corporate earnings and updates.

Read more
25 Apr 2024 07:01

Barclays Q1 profits fall 12%

(Sharecast News) - Barclays Bank reported a 12% fall in first-quarter profit on lower income as customers shopped around for better savings rates and mortgage deals.

Read more
24 Apr 2024 22:47

Microsoft-backed Rubrik prices IPO above range at $32 per share, source says

NEW YORK, April 24 (Reuters) - Rubrik, the cybersecurity software startup that counts Microsoft among its investors, priced its initial public offering at $32 per share on Wednesday above its indicated price range, according to a person familiar with the matter.

Read more
24 Apr 2024 19:38

Barclays takes EUR260 million loss from Italian mortgage book sale

(Alliance News) - Barclays PLC on Wednesday said it would book a EUR260 million pretax loss after agreeing the disposal of its Italian mortgage portfolio.

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.