Page 70 - Barclays Bank (B)

one from the Prudential Regulation Authority and
(fine)

one from his own board. (reprimand)

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.