focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar 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: 216.75
Bid: 216.10
Ask: 216.15
Change: 1.85 (0.86%)
Spread: 0.05 (0.023%)
Open: 214.55
High: 216.75
Low: 214.55
Prev. Close: 214.90
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
13 May 2024 10:51

Barclays promotes Chiapparoli EMEA co-head for industrials, names new Italy CEO

MILAN, May 13 (Reuters) - British bank Barclays on Monday said it had appointed Enrico Chiapparoli as co-head of industrials for Europe, Middle East and Africa (EMEA), leaving his post as Italy chief executive to Paolo De Luca.

Read more
10 May 2024 11:17

JPMorgan still positive on UK banks despite potential rate cuts

(Sharecast News) - JPMorgan has said that dovish comments from the Bank of England this week don't alter its constructive view on UK banking stocks, even if interest rates do fall more sharply than markets are currently pricing in.

Read more
9 May 2024 12:08

Barclays AGM disrupted by activists protesting over Gaza

LONDON, May 9 (Reuters) - Barclays' annual shareholder meeting was disrupted by activists protesting against its alleged indirect links to violence in Gaza, with the bank's chair telling security staff to eject them from the event in Glasgow on Thursday.

Read more
9 May 2024 09:53

LONDON BROKER RATINGS: NatWest target raised, other lenders backed

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

Read more
8 May 2024 16:45

UK watchdog considers redress scheme after motor finance probe

LONDON, May 8 (Reuters) - Britain's financial watchdog said on Wednesday it was considering a formal redress scheme to compensate thousands of consumers that were potentially overcharged for motor finance.

Read more
7 May 2024 07:00

Race for Europe's first 'real-time' stock trade tape heats up

LONDON, May 7 (Reuters) - Banks and asset managers are vying with Europe’s exchanges to develop technology that can deepen the pool of investors in the continent’s capital markets and better compete with Wall Street.

Read more
4 May 2024 08:37

Norway wealth fund to back Barclays CEO, chair at AGM

OSLO, May 4 (Reuters) - Norway's $1.6 trillion sovereign wealth fund, one of the world's largest investors, supports the reappointment of Barclays CEO C.S. Venkatakrishnan and Chair Nigel Higgins to the British bank's board, the fund manager said on Saturday.

Read more
3 May 2024 17:04

Ex-Odey portfolio manager Hanbury warns investors are 'buying blind'

LONDON, May 3 (Reuters) - Former Odey Asset Management (OAM) portfolio manager James Hanbury has said in a letter to investors that passive and systematic trading strategies have grown so much that those trading on company fundamentals might be hurt.

Read more
2 May 2024 13:48

UK shareholder meetings calendar - next 7 days

Friday 3 May 
Ashoka India Equity Investment Trust PLCGM re share issue
HSBC Holdings PLCAGM
Intercontinental Hotels Group PLCAGM
Mondi PLCAGM
More Acquisitions PLCAGM
Monday 6 May 
no events scheduled 
Tuesday 7 May 
Caledonia Mining Corp PLCAGM
CPPGroup PLCAGM
Just Group PLCAGM
Macfarlane Group PLC AGM
Plus500 LtdAGM
Supernova Digital Assets PLCAGM
Wednesday 8 May 
Airea PLCAGM
Antofagasta PLCAGM
Aston Martin Lagonda Global Holdings PLCAGM
Deltex Medical Group PLCAGM
Direct Line Insurance Group PLCAGM
Fidelity European Trust PLCAGM
Haleon PLCAGM
Jardine Matheson PLCAGM
JZ Capital Partners LtdEGM re investing in a secondary fund
Oscillate PLCAGM
Pershing Square Holdings LtdAGM
Rentokil Initial PLCAGM
WPP PLCAGM
Thursday 9 May 
Ascential PLCAGM
BAE Systems PLCAGM
Balfour Beatty PLCAGM
Barclays PLCAGM
CAB Payments Holdings PLCAGM
Catenai PLCGM re convertible loan note
Clarkson PLCAGM
FBD Holdings PLCAGM
Genel Energy plcAGM
Gym Group PLCAGM
Harbour Energy PLCAGM
Hiscox LtdAGM
IMI PLCAGM
Inchcape PLCAGM
Indivior PLCAGM
John Wood Group PLCAGM
Jupiter Fund Management PLCAGM
Logistics Development Group PLCAGM
Man Group PLCAGM
Morgan Advanced Materials PLCAGM
OSB Group PLCAGM
Public Policy Holding Co IncAGM
Rathbones Group PLCAGM
RM PLCAGM
Spire Healthcare Group PLCAGM
Synthomer PLCAGM
Uniphar PLCAGM
  
Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

Read more
1 May 2024 14:50

Barclays to cut jobs in investment banking - reports

(Sharecast News) - Barclays has reportedly kicked off a fresh round of redundancies, cutting "a few hundred roles" at its investment bank as it looks to tackle underperformers and reinvest in new talent.

Read more
30 Apr 2024 20:30

GM in talks with Barclays to replace Goldman Sachs in credit card partnership -source

NEW YORK April 29 (Reuters) -

Read more
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

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.