Apologizes for Handling of Whistle-Blower Complaint -
By CHAD BRAYMAY 10, 2017
LONDON — Barclays shareholders vented their frustrations with James E. Staley, the British bank’s chief executive, on
Wednesday after he was caught up in a regulatory inquiry last month over his treatment of a whistle-blower complaint.
At the bank’s annual meeting in London, one shareholder called for Mr. Staley to step down from the stage — John McFarlane, the Barclays chairman, declined the request —
and another later asked for Mr. Staley to resign immediately.
“I have apologized to the board, and I would today like to apologize to you as well, for that error.”
British regulators are investigating Mr. Staley after he sought to learn the identity of a whistle-blower last year after the company received two anonymous letters
that involved a former colleague at JPMorgan Chase whom he had hired.
“I feel it is important that I acknowledge to you — our shareholders —
that I made a mistake in becoming involved in an issue which I should have left to the business to deal with,” Mr. Staley told investors on Wednesday.
Mr. McFarlane said that Mr. Staley mistakenly believed at the time
that the matter was closed and he could proceed with efforts to learn the individual’s identity.
“If I believed a chief executive should go, you know me, he would go,” Mr. McFarlane said.
