The CEO of Barclays bank is being investigated by regulators for his attempts to unmask a whistleblower who had written anonymous letters raising concerns about a senior employee.
Jes Staley had sought to identify the author of the letters but was told it was inappropriate to do so under rules protecting whistleblowers. Staley then sought again to identify the person, even using help from a U.S. law enforcement agency, but failed.
The bank said Monday that Staley had honestly, but mistakenly, believed that he had clearance to identify the whistleblower.
He now faces an official inquiry by the Financial Conduct Authority and Prudential Regulation Authority for his “individual conduct and senior manager responsibilities” related to the company’s whistleblowing program.
The bank said Staley will face a written reprimand and a “very significant” adjustment in his pay. The amount will be determined once the official inquiries have concluded.
The incident involves