Barclays chief subject of probe

Financial regulators in Britain are investigating Barclays CEO Jes Staley and the bank over the handling of a whistleblowing incident.

Barclays said yesterday the investigation by the Financial Conduct Authority and the Prudential Regulation Authority relates to an attempt last year by Mr Staley to identify the author of letters that were treated by Barclays as a whistleblowing incident.

Barclays said it has formally reprimanded Mr Staley and will “very significantly” cut his bonus. But the bank said he continued to have the “unanimous confidence” of the board and it will support his reappointment at the annual shareholder meeting on May 10.