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Barclays' (Now Former) Head Of FX Strategy In Asia Has A Moment

Have you ever had construction going on nearby your home? Was it loud? Annoying? Did keep it keep you up in the middle of the night? Did you seriously consider opening your window and screaming "Hey! Shut the hell up down there!" or even confronting the people making all that racket face to face? Olivier Desbarres can relate. Or at least he can half relate. Because while most of you were probably talked out of making some sort of scene, either by your significant other or your own impulse control, on October 20th Desbarres decided to go in another direction, the one that involved introducing himself to the construction workers building a house near his own by screaming "I'm gonna go after you, I will haunt you, I'm gonna burn your fucking house down, I will find your fucking family," a task he noted would be fairly simple and straightforward ("I can find [them] very easily," he explained, "I'm a man with resources"), in case there were doubts (a fairly reasonable concern, as there are a lot of people in Singapore and how were these guys supposed to know he had an army of Barclays researchers at his disposal?). Still worried that the group wasn't taking his threats seriously on account of the casual look he was sporting that morning-- shorts and sandals-- Desbarres then picked up some sheet metal and launched it in their direction, presumably to demonstrate he meant business.* Although that would have been a good time to make his exit, at that point Desbarres noticed that one of the men had been recording him without his consent, leading to: “You’re filming me? You think that’s good? Put your fucking phone down because I’m going to wait for you to come out and take that phone and shove it up your fucking ass.” According to one local publication, this whole thing started because the construction crew began working at 8:45am one day in October instead of 9am, the time Desbarres preferred. In related news, according to a person familiar with Barclays' policies concerning construction site meltdowns, "We consider such behavior and language unacceptable. It does not meet the high standard of conduct that we expect of our employees." Desbarres, who is no longer with the bank, has not yet returned Dealbreaker's call for comment.** Foul-mouth foreigner threatens workers and warns he will hunt down their families [Stomp] Barlcays Far Too Candid Camera [Sunday Times via Ian Fraser] Barclays Capital Appoints Olivier Desbarres as Head of FX Strategy, Asia-Pacific Ex-Japan [BarCap] Related (re: Barclays employees losing their shit in public): Barclays Global Head of Investment Banking Writes Tear-Stained Letter To Son’s School, Demands Teacher’s Firing For Trash Talking Barclays, Making Son Cry *Insane ranting + shorts + sandals can leave room for interpretation re: is this guy serious or not; insane ranting + shorts + sandals + grabbing whatever shit from a construction site is within arm's reach and throwing at people is generally-- though not always!-- pretty clear. **Possibly because we called in the middle of the night local time and he is on his way to New York to throw a piece of sheetrock at us; you know how he gets when his sleep is interrupted.
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Have you ever had construction going on nearby your home? Was it loud? Annoying? Did keep it keep you up in the middle of the night? Did you seriously consider opening your window and screaming "Hey! Shut the hell up down there!" or even confronting the people making all that racket face to face? Olivier Desbarres can relate. Or at least he can half relate. Because while most of you were probably talked out of making some sort of scene, either by your significant other or your own impulse control, on October 20th Desbarres decided to go in another direction, the one that involved introducing himself to the construction workers building a house near his own by screaming, "I'm gonna go after you, I will haunt you, I'm gonna burn your fucking house down, I will find your fucking family," a task he noted would be fairly simple and straightforward ("I can find [them] very easily," he explained, "I'm a man with resources"), in case there were doubts (a fairly reasonable concern, as there are a lot of people in Singapore and how were these guys supposed to know he had an army of Barclays researchers at his disposal?).

Still worried that the group wasn't taking his threats seriously on account of the casual look he was sporting that morning-- shorts and sandals-- Desbarres then picked up some sheet metal and launched it in their direction, presumably to demonstrate he meant business.* Although that would have been a good time to make his exit, at that point Desbarres noticed that one of the men had been recording him without his consent, leading to:

“You’re filming me? You think that’s good? Put your fucking phone down because I’m going to wait for you to come out and take that phone and shove it up your fucking ass.”

According to a local publication, this whole thing started because the construction crew began working at 8:45am one day instead of 9am, the time Desbarres preferred. In related news, according to a person familiar with Barclays' policies concerning construction site meltdowns, the firm "Considers such behavior and language unacceptable. It does not meet the high standard of conduct that we expect of our employees." Desbarres, who is no longer with the bank, has not yet returned Dealbreaker's call for comment.**

Foul-mouth foreigner threatens workers and warns he will hunt down their families [Stomp]
Barlcays Far Too Candid Camera [Sunday Times via Ian Fraser]
Barclays Capital Appoints Olivier Desbarres as Head of FX Strategy, Asia-Pacific Ex-Japan [BarCap]
Related (re: Barclays employees losing their shit in public): Barclays Global Head of Investment Banking Writes Tear-Stained Letter To Son’s School, Demands Teacher’s Firing For Trash Talking Barclays, Making Son Cry

*Insane ranting + shorts + sandals can leave room for interpretation re: is this guy serious or not; insane ranting + shorts + sandals + grabbing whatever shit from a construction site is within arm's reach and throwing at people is generally-- though not always!-- pretty clear.
**Possibly because we called in the middle of the night local time and he is on his way to New York to throw a piece of sheetrock at us; you know how he gets when his sleep is interrupted.

Related

Former Barclays Employee Sentenced To 52 Weeks In Jail

Breathe easy, friends of Bob Diamond and the guy who wrote "Anything for you, Big Boy," as a response to the request, "Can you manipulate Libor for me today when you've got a sec? Thanks a mill." In this case we speak of Rachael Claire Martin, the ex-Barlcays employee who used customer funds to pay for breast augmentations, dental work, liposuction, drugs, alcohol, shoes, and jewelry, despite initially telling authorities she covered the tricks and treats with money she earned engaging in sex for payment (an excuse anyone facing questioning for their own alleged misconduct should feel free to use. Just because one judge didn't buy it doesn't mean another won't). Mother-of-one and law graduate Rachael Martin, 24, ‘spent money like water' after getting a job with Barclays in Liskeard, Cornwall, where she was responsible for dealing with cheques. The stolen cash paid for a breast enlargement, thought to be worth £4,000, dental work worth £1,700, and liposuction, as well as nights out, drink and drugs. She has now been jailed after stealing £46,000 in just two months from her employers. Extravagances included £1,687.95 at the Windsor Place dental surgery in Liskeard, and £500 on unspecified cosmetic surgery at Harley Medical, the court heard. Martin also lavished £670 at exclusive jewellers Tiffany, and £506 on a pair of Jimmy Choo shoes. When she was arrested, Martin, from St Austell in Cornwall, told police she earned money as an escort in Bristol, adding that she was ‘a common prostitute’. But the claim was a cover for her criminal behaviour, said prosecutor Iain Leadbetter. Recorder Jeremy Wright jailed Martin, who has an eight-year-old son, for 52 weeks, telling her she had demonstrated a ‘concerted, clever and serious breach of trust'. Bank worker, 24, who stole £46,000 to fund boob job and party lifestyle told police she earned the money working as an escort [DM]

Barclays Gets To Take A Turn Explaining Its Hiring Practices In Asia

The British bank didn't want to be left out of the fun!

RBS Traders Have Yet To Find Anything They Don't Like To Manipulate

Just because their manipulation of Libor has gotten the most notice doesn't mean it's the only thing like to mess with. Don't box them into that corner, like your one-trick ponies at Barclays. Royal Bank of Scotland suspended a trader for trying to rig the Singapore dollar swap offer rate, indicating employees may have sought to manipulate more than just Libor, two people briefed on the matter said. Senior trader Chong Wen Kuang was put on leave earlier this year for trying to rig the interest rate to benefit his trading position, said the people who asked not to be identified because the bank is probing his actions. He is the first RBS employee to be suspended or fired for attempting to rig a benchmark other than the London interbank offered rate, one of the people said. RBS Said To Suspend Trader Of Interest Rate Rigging [RBS] Earlier: RBS Trader Whose Instant Messages Clearly Show Him (Allegedly) Engaging In Libor Manipulation Not Going Down Without A Fight

Barclays Is 'Truly Sorry' It Got Caught Manipulating Libor Though Not Sorry Enough To Make Amends In Person

An ad in the paper will have to suffice. Barclays has made a public apology to customers and clients, saying they have “been let down” by the bank. “We are truly sorry for what has happened,” Barclays said in a advertisement published in several British newspaper today, including the Financial Times, the London-based Times and the Guardian. “You are the lifeblood of our business, and we will not allow ourselves to be distracted from what really matters -- delivering for you, day in and day out,” the statement, signed by Chairman Marcus Agius, says. “I also thank you for your business. It is our responsibility to earn the right to retain it.” Barclays Says ‘Truly Sorry’ For Letting Down Customers, Clients [Bloomberg] Barclays Makes Public Apology [HIC]