Who resigned as CEO of Barclay's after the LIBOR tax rate scandal?
"Commodity Futures Trading Commission, $160m by the United States Department of Justice and £59.5m by the Financial Services Authority for attempted manipulation of the Libor and Euribor rates. The United States Department of Justice and Barclays officially agreed that ""the manipulation of the submissions affected the fixed rates on some occasions"". On 2 July 2012, Marcus Agius, chairman of Barclays, resigned from the position following the interest rate rigging scandal. Bob Diamond, the chief executive officer of Barclays, resigned on 3 July 2012. Marcus Agius will fill his post until a replacement is found. Jerry del Missier, chief operating officer"
"following the heavy fine that Barclays suffered as a result of some of their company employees being involved in manipulating the London Interbank Offered Rate, which became known as the LIBOR scandal. Just 24 hours later, on July 3, Diamond resigned his post with immediate effect. Diamond's longtime protege, Jerry del Missier, who had been appointed chief operating officer of Barclays on June 22, 2012, resigned on July 2, 2012. In June 2012, Barclays was fined £59.5 million by the FSA (£290 million in total) for ""serious, widespread breaches of City rules relating to the Libor and Euribor rates"". The"
"of Barclays, also resigned, as a casualty of the scandal. Del Missier subsequently admitted that he had instructed his subordinates to submit falsified LIBORs to the British Bankers Association. By 4 July 2012 the breadth of the scandal was evident and became the topic of analysis on news and financial programs that attempted to explain the importance of the scandal. On 6 July, it was announced that the UK Serious Fraud Office had also opened a criminal investigation into the attempted manipulation of interest rates. On 4 October 2012, Republican US Senators Chuck Grassley and Mark Kirk announced that they"
"York Times article published July 16, 2012, a former senior Barclays executive claimed he had received instructions from Robert Diamond to lower Libor rates after Diamond's discussions with Paul Tucker, deputy governor of the Bank of England, in which they had discussed the bank's financial position at the height of the 2008 financial crisis. Diamond, who reported that he was ""sickened"" by news of the Libor scandal, was surprised since Barclays had taken the advice of its lawyers to cooperate in the investigation and be first bank to settle the charges. Diamond's resignation under pressure was controversial. ""The New York"
"Bob Diamond (banker) Robert Edward Diamond, Jr. (born July 27, 1951) is a British-American banker and former group chief executive of Barclays plc. In 2010, he became its president and deputy group chief executive; and in January 2011, succeeded John Varley as group chief executive of Barclays. Diamond resigned as chief executive of Barclays after a Bank of England hearing on July 3, 2012, following controversy over manipulation of Libor interest rates by traders employed by the bank. Diamond was born in Concord, Massachusetts, on July 27, 1951. One of nine children, Diamond grew up in a Roman Catholic family"
"Select Committee, in which Sants had raised profound concerns about the culture and governance arrangements at Barclays when Bob Diamond was appointed as the bank’s chief executive in 2010. Antony Jenkins, who replaced Diamond as Barclays CEO, was keen to recruit Sants to bolster the status of Barclays’ compliance and regulatory oversight functions and make it integral to the way the bank operates. On 15 October 2013, Barclays announced that Sants was taking three months' sick leave as he was suffering from ""exhaustion and stress"", and he resigned from the bank on 13 November 2013. In July 2015, Sir Hector"
"backbone, they'll sack him."" The US Department of Justice has also been involved, with ""other financial institutions and individuals"" under investigation. On 2 July 2012, Marcus Agius resigned from the chairman position following the interest rate rigging scandal. On 3 July 2012, Bob Diamond resigned with immediate effect, leaving Marcus Agius to fill his post until a replacement is found. Within the space of a few hours, this was followed by the resignation of the Bank's chief operating officer, Jerry del Missier. Barclays subsequently announced that Antony Jenkins, its existing chief executive of Global Retail & Business Banking would become"
"group chief executive on 30 August 2012. On 17 February 2014 the Serious Fraud Office charged three former bank employees Peter Charles Johnson, Jonathan James Mathew and Stylianos Contogoulas with manipulating Libor rates between June 2005 and August 2007. Barclays' June and November 2008 capital raisings are the subject of investigations. The Serious Fraud Office (United Kingdom) commenced its investigation in August 2012. In October 2012, the United States Department of Justice and the US Securities and Exchange Commission informed Barclays they had commenced an investigation into whether the group's relationships with third parties who assist Barclays to win or"
"had any shame he would go. If the Barclays board has any backbone, they'll sack him."" The U.S. Department of Justice had also been involved in the investigation. Diamond announced on June 29, 2012, that he would not resign over the bank's role in the fraud. Diamond voluntarily gave up his bonus for 2012 but initially maintained that he would remain as chief executive. However, following widespread anger at his refusal to step down and amidst concerns that his presence could be harmful to the Barclays brand, he resigned as chief executive on July 3, 2012. According to a New"
"Authority (FSA), which levied a fine of £59.5 million ($92.7 million), gave Barclays the biggest fine it had ever imposed in its history. The FSA's director of enforcement described Barclays' behaviour as ""completely unacceptable"", adding ""Libor is an incredibly important benchmark reference rate, and it is relied on for many, many hundreds of thousands of contracts all over the world."" The bank's chief executive Bob Diamond decided to give up his bonus as a result of the fine. Liberal Democrat politician Lord Oakeshott criticised Diamond, saying: ""If he had any shame he would go. If the Barclays board has any"
"of the bank's EMEA financial institutions group in 2014. I In 2016, Boath left Barclays and is pursuing an employment law claim against the bank, adjourned in December 2016. In June 2017, following a five-year investigation by the UK's Serious Fraud Office covering Barclays' activities during the financial crisis of 2007–2008, the former Barclays chief executive John Varley and three former colleagues, Roger Jenkins, Thomas Kalaris and Boath were charged with conspiracy to commit fraud and the provision of unlawful financial assistance. Richard Boath Richard Boath is a British banker, the former Barclays global co-head of finance. Richard Boath is"
"John McFall commented “Your long answers are not helping us”. At the end of the hearing, however, he added “you did very well”. In December 2012, it was announced that Sants would take up the position of Head of Compliance and Government and Regulatory Relations with Barclays Bank from January 2013. It had previously emerged that after Sants stepped down from the FSA in June, in the same month the FSA fined Barclays £59.5m for manipulating the interbank borrowing rate Libor (Libor scandal). In September 2012, Sants had released correspondence with Barclays to Andrew Tyrie MP, chairman of the Treasury"
"its board of directors, while also remaining chief executive of Barclays Capital. Diamond headed Barclays' bid to purchase Lehman Brothers in September 2008, but that was stymied by the Bank of England. Diamond then sealed an agreement with Lehman Brothers President and COO Bart McDade to purchase key assets of that firm after it filed for bankruptcy, which instantly gave Barclays an investment banking foothold on Wall Street. Diamond became deputy group chief executive on October 1, 2010, and then succeeded John Varley as Group Chief Executive on January 1, 2011. On July 2, 2012, Barclays' chairman, Marcus Agius, resigned"
"to Carney who planned to leave the Bank of England in 2019 after six years of his maximum possible statutory eight-year term. She took up the position on 1 March 2017. In March 2017, Hogg apologised for having previously breached the Bank of England's code of conduct and personal relationships policy. She had failed to declare a potential conflict of interest in that her brother worked in the strategy office of Barclays, subject to Bank of England regulation. Hogg gave incorrect oral evidence to the Treasury Select Committee. She issued a letter of apology to the Committee. Hogg resigned from"
"John Silvester Varley John Silvester Varley (born 1 April 1956) is an English banker, and the group chief executive of Barclays from 2004 to 2011. In June 2017, following a five-year investigation by the UK's Serious Fraud Office covering Barclays' activities during the financial crisis of 2007–2008, Varley and three former colleagues, Roger Jenkins, Thomas Kalaris and Richard Boath, were charged with conspiracy to commit fraud and the provision of unlawful financial assistance. John Silvester Varley was born in Warwick. His father, Philip, was a solicitor in Coventry. Varley was educated at the Catholic Downside School at Stratton-on-the-Fosse south of"
"closed in December 2011 without doing any deals. In October 2011, it was announced that Jenkins had joined BTG Pactual as a managing partner and would sit on the bank's global management and investment committees. In June 2017, following a five-year investigation by the UK's Serious Fraud Office covering Barclays' activities during the financial crisis of 2007–2008, former CEO John Varley and three former colleagues, Jenkins, Thomas Kalaris and Richard Boath, were charged with conspiracy to commit fraud and the provision of unlawful financial assistance. Jenkins first married Catherine McDowell, a financier and banker at Barclays, and had one daughter."
"Jes Staley James Edward ""Jes"" Staley (born December 27, 1956), is an American banker, and the group chief executive (CEO) of Barclays. He spent 34 years at J.P. Morgan's investment bank, ultimately becoming CEO. In 2013 he moved to BlueMountain Capital, and on 1 December 2015 became CEO of Barclays. Staley was born on in Boston, Massachusetts. His father, Paul R. Staley, was president and CEO of PQ Corporation, a chemicals company, who eventually settled the family outside of Philadelphia, Pennsylvania. His grandfather, Edward Staley, was the top executive of W.T. Grant at the time when the company filed for"
"bank, Lazard, where he worked from 1972 to 2006 holding several senior positions. He was appointed as the chairman of the London branch of Lazard in 2001 and deputy chairman of Lazard LLC in 2002. He joined BAA PLC as a non-executive director in 1995 and served as its chairman from 2002 till 2006. On 1 September 2006, Agius joined the Barclays board as a non-executive director and succeeded Matthew Barrett as chairman from 1 January 2007. His most recently reported salary was £750,000. On 2 July 2012 it was announced that Agius would resign following the Barclays fine for"
"take no action against them at that time. Minutes by the Bank of England similarly indicated that the bank and its deputy governor Paul Tucker were also aware as early as November 2007 of industry concerns that the Libor rate was being under-reported. In one 2008 document, a Barclays employee told a New York Fed analyst, ""We know that we're not posting an honest Libor, and yet we are doing it, because if we didn't do it, it draws unwanted attention on ourselves."" The documents show that in early 2008, a memo written by then New York Fed President Tim"
"Lynch & Co. where he spent the succeeding twenty years in their mergers and acquisitions (M&A) department. He left Merrill Lynch in 2012 to join Swiss investment bank UBS at the behest of Sergio Ermotti, receiving a sign-on bonus of US$26.2 million (£17 million). From 2012 to 2018, Orcel endured the 2013 Libor trading scandal, led a major corporate restructuring, reduced the bank's wage bills by $3 billion through aggressive downsizing, and ramped up M&A activity. All throughout the late 2010s, it was speculated that Orcel was to either succeed Ermotti as the chief executive of UBS, or go on"
"was Chief Executive, Retail Financial Services. He joined the main Barclays board on 5 June 1998 and was Group Finance Director from 2000 until the end of 2003. On 1 January 2004, Varley became Group Deputy Chief Executive, and on 1 September 2004 he succeeded Matthew Barrett as Group Chief Executive of Barclays. His annual salary from Barclays was £1,075,000. On 1 January 2011 he was succeeded as Chief Executive by Robert Diamond. As of 2013, Varley was a trustee of The Prince of Wales's Charitable Foundation. In June 2017, Varley was charged with conspiracy to commit fraud by the"
"the UK's Serious Fraud Office covering Barclays' activities during the financial crisis of 2007–2008, the former Barclays chief executive John Varley and three former colleagues, Roger Jenkins, Kalaris and Richard Boath were charged with conspiracy to commit fraud and the provision of unlawful financial assistance. Thomas Kalaris Thomas Llewellyn Kalaris (born November 1955) is a British banker, the former chief executive of Barclays wealth and investment management. Kalaris has a bachelor's degree from Dickinson College in Carlisle, Pennsylvania, and an MBA from the University of Chicago. Kalaris joined Barclays in 1996, and was a member of the bank's executive committee"
"client of Barclays. In turn KKR stopped inviting Barclays to participate in its deal making. Jes Staley James Edward ""Jes"" Staley (born December 27, 1956), is an American banker, and the group chief executive (CEO) of Barclays. He spent 34 years at J.P. Morgan's investment bank, ultimately becoming CEO. In 2013 he moved to BlueMountain Capital, and on 1 December 2015 became CEO of Barclays. Staley was born on in Boston, Massachusetts. His father, Paul R. Staley, was president and CEO of PQ Corporation, a chemicals company, who eventually settled the family outside of Philadelphia, Pennsylvania. His grandfather, Edward Staley,"
"to Citigroup where he was promoted to lead the company's branded credit card business. In 2006, he returned to Barclays to take over the company's Barclaycard division. In 2009, Jenkins was promoted to chief executive of the retail and business banking group and asked to join the executive committee. Jenkins was appointed as Barclays' group chief executive on 30 August 2012. In February 2014, he announced he would be declining his bonus for 2013 following a series of scandals. On 8 July 2015 it was announced that he had been sacked by Barclays after a dispute with the board over"
"part of an approximately $450 million total resolution with U.S. and British authorities. Shortly after the announcement of the Barclays resolution, the top leadership of the bank was forced to resign. On December 19, 2012, Attorney General Holder and Breuer announced the second LIBOR resolution, this time with UBS AG and UBS Japan. UBS Japan agreed to plead guilty to wire fraud, and UBS AG entered into a non-prosecution agreement with the government and, together with UBS Japan, agreed to pay $500 million in penalties. This was part of an approximately $1.5 billion total resolution with U.S., British, and Swiss"
"it was announced Lehman would post an unexpectedly large second-quarter loss of nearly $3 billion. As part of the reshuffling, McDade was named COO and President. Lehman Brothers filed for bankruptcy protection three months later, on September 15, 2008. McDade was one of a handful of top Lehman executives offered a job at Barclays after the British bank bought Lehman's U.S. operations when Lehman declared bankruptcy in September 2008. However, he stepped down from his position at Barclays in November 2008, after less than two months helping Barclays integrate Lehman Brothers' investment banking arm into its operations. He is married"
"bank had been found to have lied, sometimes to make a profit, and other times to make the bank look more secure during the financial crisis. The UK's Financial Services Authority (FSA), which levied a fine of £59.5 million (US$92.7 million), gave Barclays the biggest fine it had ever imposed in its history. The FSA's director of enforcement described such behaviour as ""completely unacceptable"", adding ""Libor is an incredibly important benchmark reference rate, and it is relied on for many, many hundreds of thousands of contracts all over the world."" Liberal Democrat politician Lord Oakeshott criticised Diamond, saying: ""If he"
"noted in its report into Libor that the conclusion of the Financial Services Authority was that ""no instruction for Barclays to lower its LIBOR submissions was given during this telephone conversation"", but that ""as the substance of the telephone conversation was relayed down the chain of command at Barclays, a misunderstanding or miscommunication occurred"" so that ""Barclays' Submitters believed mistakenly that they were operating under an instruction from the Bank of England"". The U.S. Department of Justice and the U.S. Commodity Futures Trading Commission also came to similar conclusions following their investigations. In December 2015, Tucker became chair of the"
"announced with the Securities and Exchange Commission the release of long-awaited guidance on the Department of Justice's and SEC's approach to FCPA enforcement. The 120-page guide – ""A Resource Guide to the U.S. Foreign Corrupt Practices Act""—was largely praised by the business and enforcement communities. In June 2012, under Breuer's leadership, the Fraud Section resolved an investigation of Barclays Bank into the bank's manipulation of the London Interbank Offered Rate, or LIBOR, the premier benchmark for short-term interest rates. Barclays entered into a non-prosecution agreement with the Justice Department, pursuant to which it agreed to pay $160 million. This was"
"2015 Barclay featured in news media for criticising supporters of popular current affairs show ""Campbell Live"" which had been threatened with closure. He subsequently deleted his Twitter comment. In November 2016, media reports indicated that Queenstown resident Simon Flood intended to challenge Barclay for selection as the National candidate for Clutha-Southland at the 2017 election. At a party meeting on 21 December 2016 to select the candidate for the Clutha-Southland electorate in 2017, Barclay won the selection over challenger Simon Flood. On 9 February 2016, Glenys Dickson, a senior electorate agent for Barclay, resigned because of an ""employment problem"" between"
"December 2016, she was appointed CEO of the newly formed Wealth & Investments business, which incorporated the UK Savings business in March 2018. In July 2018, Barclays announced the retirement of Dena Brumpton and the appointment of Dirk Klee as her successor, both effective from September 2018. Barclays is a transatlantic consumer and wholesale bank offering products and services across personal, corporate and investment banking, credit cards and wealth management, with a strong presence in its two home markets of the UK and the US. With over 325 years of history and expertise in banking, Barclays operates in over 40"
"executives and it was seeking unspecified damages. The bank's shares dropped 5% on news of the lawsuit, prompting an announcement to the London Stock Exchange by the bank saying it was taking the allegations seriously, and was co-operating with the New York attorney general. A month later the bank filed a motion for the suit to be dismissed, saying there had been no fraud, no victims and no harm to anyone. The New York Attorney General's office issued a statement saying the attorney general was confident the motion would fail. On 31 January 2016, Barclays settled with both the New"
"the injections by Qatar in June and November 2008, notably the so far unproven allegation that Barclays lent Qatar the money to invest in the bank. Other questions include what happened to the £110 million in fees paid by Barclays ostensibly to Sheikh Mansour, and the £66 million provided by Barclays to the Qataris for unexplained ""advisory fees"". In June 2017, following a five-year investigation by the UK's Serious Fraud Office covering Barclays' activities during the financial crisis of 2007–2008, former CEO John Varley and three former colleagues, Roger Jenkins, Thomas Kalaris and Richard Boath, were charged with conspiracy to"