Barclays

  • 04 Aug 2014 at 12:02 PM

Donald Trump Now Offering Legal Advice To Barclays

Back in July, Barclays was hit with a major lawsuit by New York Attorney General Eric Schneiderman, who alleged the bank “favored high-frequency traders in its dark pool and then lied to clients about their participation in the trading venue.” It wasn’t a great look for the Brits and it came at an especially awkward time for chief executive officer Antony Jenkins, who was supposed to be making the place less fraud friendly than it was under his predecessor. And while the bank has its own lawyers on payroll, who have already responded to the charges, one guy who knows from lawsuits has chosen to offer his unsolicited counsel nevertheless. Read more »

Will Barclays reprise its role as sucker to take the hardest fall? Or has it learned its lesson and won’t be raising its hand first this time? Read more »

What to Eric Schneiderman’s naked eye appears as fraud, Barclays customers apparently understand is just totally legitimate ways of doing business, according to the bank. Therefore, it wants this dark pools lawsuit dismissed and never mentioned again. Not once! Read more »

Until recently, like, say, this morning, Bill White headed the group that made headlines this week for fraud (allegedly lying to clients about high frequency trading, this and that). And, technically, he’s still got his job, though for the time being it will involve answering questions posed by Attorney General Eric Schneiderman, and not coming within 200 feet of clients. Obviously, CEO Antony Jenkins would prefer to fire White or at the very least spend an hour or so pelting him crumpets, since he really kind of put his boss in an awkward spot in light of the whole promise Jenkins made re: Barclays not being the kind of bank that does this kind of stuff anymore. But time and place, etc. Read more »

Antony Jenkins, promoted to run Barclays Plc after the Libor scandal, pledged to overhaul the bank’s culture, committing to values of integrity and respect. Allegations of fraud on his watch are undermining his plan. Barclays lied to customers and masked the role of high-frequency traders as it sought to boost revenue at one of Wall Street’s largest private trading venues, New York Attorney General Eric Schneiderman said in a civil complaint filed June 25. He cited a pattern of misleading and false representations that went on as recently as April. The first allegations of new misconduct since Jenkins was named chief executive officer of the London-based bank in August 2012 mark a setback in his efforts to break with the past and sent shares plunging the most since he took over. A hit to the reputation of the Barclays LX dark pool also would hinder Jenkins’s effort to turn around the firm’s investment bank by focusing on equities. [Bloomberg]

  • 03 Jun 2014 at 10:00 AM

Layoffs Watch ’14: Barclays

The Brits are preparing to say so long to a bunch of employees in Asia. Read more »

  • 08 May 2014 at 2:50 PM

Layoffs Watch ’14: Barclays Has A Plan

In addition to the 12,000 aforementioned cuts, the Brits will be handing out an addition 7,000 pink slips between now and 2016. Read more »

  • 06 May 2014 at 4:08 PM

Layoffs Watch ’14: Barclays

That big round of cuts CEO Antony Jenkins has been chomping at the bit to announce are expected to come later this week. Read more »