Bank Chief Punished for Effort to Expose Whistleblower

He was exposed by another whistleblower
By Rob Quinn,  Newser Staff
Posted Apr 10, 2017 12:17 AM CDT
"Our whistleblowing process is one of the most important means by which we protect our culture and values at Barclays," a repentant Staley said.   (AP Photo/Kirsty Wigglesworth, File)

(Newser) – One of Britain's top bankers is being punished for his attempts to unmask a whistleblower. Jes Staley, CEO of Barclays, will be officially reprimanded and lose a bonus that the BBC estimates at more than $1.5 million. He will also be investigated by regulators in the UK and the US over his efforts to identify the person who wrote a letter raising concerns about a senior bank employee. The AP reports that Staley kept trying to unmask the person, enlisting the help of a US law enforcement agency, even after he'd been warned that what he was doing was inappropriate. The bank says Staley—whose behavior was exposed by another whistleblower—mistakenly believed that he had the clearance to try to identify the letter's author. (Read more Barclays stories.)

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