Staley grind

12 May 2017 By George Hay Follow @gfhay

The UK bank chief is yet again in the spotlight after falling for an email spoof. After recent controversies involving whistleblowers and the blurring of work and outside interests, he is no doubt walking on eggshells. Breakingviews imagines a typical day.

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Barclays confirmed that its chief executive, Jes Staley, had been deceived by emails purportedly from the lender's Chairman, John McFarlane.

In the email exchange reported by the Financial Times on May 11, a person pretending to be McFarlane using the email address john.mcfarlane.barclays@gmail.com said Staley owed the chairman "a large scotch" for his defence of the chief executive.

A spokesman for Barclays confirmed the contents of the emails, but declined to comment further on the exchange.

McFarlane offered a robust defence of Staley at the lender's annual shareholder meeting in London on May 10, where Staley faced calls from individual shareholders to resign after he tried twice to identify the author of a letter about an unnamed senior employee.

Staley initially responded to the emails purportedly from McFarlane with thanks, saying the bank's chairman had "a courage not seen in many people".

"Some day I want to see an ad lib guitar run. You have all the fearlessness of Clapton," Staley said, referring to the guitarist Eric Clapton.

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