Page 89 - Bank Case Studies
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The Board however, may have felt relieved that they didn't
have to go looking for a fourth chief executive since Bob
Diamond stepped down in 2012.
“Staley’s misconduct was the focus of last year’s AGM, when
shareholders fired a warning shot at the banking chief, with
more than 16% of votes cast failing to back his re-election.
Nearly 14% abstained and 2.4% voted against”. (5)
However, even before
the outcome of the
regulators’
investigations became
public, an influential
advisory group –
Institutional
Shareholder Services – called for a vote in favour of Staley at the May
2018 AGM. (6)
Staley was fined £642,430 in May 2018. by British regulators. for
breaching conduct rules by attempting to identify who sent letters
criticizing an employee of the bank.
