Barclays Bank

Barclays Bank is one of the world’s oldest banks. In June 2012, it was fined 290 million pounds (US$450 million) for attempting to manipulate the daily settings of London Interbank Offered Rate (Libor) and the Euro Interbank Offered Rate (Euribor). The bank's chief executive, Bob Diamond, decided to give up his bonus as a result of the fine, and subsequently resigned after a wave of criticism against the bank. 

British bank Barclays axes CEO Jenkins

Antony Jenkins lasted three years as Barclays' chief executive. Photo: Reuters

British bank Barclays has ousted chief executive Antony Jenkins after three years in the post, saying on Wednesday it had decided new blood would help accelerate strategic change and boost shareholder returns.

Wednesday, 8 July, 2015, 6:48pm

Barclays hiring in Asia despite cutting jobs elsewhere

Barclays is expanding in capital markets in China.

Barclays, the British bank that is cutting thousands of jobs worldwide, is now hiring in Asia-Pacific to refocus its investment-banking business, according to its co-chief executive for the region.

10 Nov 2014 - 4:48am

Barclays to begin cutting jobs in the Asia-Pacific

Barclays is targeting growth in key areas of strength as it cuts jobs after the departure of a number of senior staff. Photo: Bloomberg

Barclays, Britain's second-biggest bank by assets, will start eliminating 100 jobs across its Asia-Pacific investment banking and markets businesses this week, a person with knowledge of the matter said.

4 Jun 2014 - 5:08am

Chinese banks in Hong Kong go quiet on last year's promised bonus

Barclays announced last week that it was cutting 14,000 jobs across the group globally.

Is it too late to get your bonus in May? I'm talking about last year's bonus, not this year's. It is something that some Hong Kong-based staff at several mainland investment banks have been waiting anxiously for.

12 May 2014 - 6:28am 5 comments

Was Barclays the problem, or its business model?

Barclays will shed 7,000 jobs at its investment bank and plans to sell retail banking operations in mainland Europe. Photo: Bloomberg

When the world applauds your obituary, as it has the death of Barclays' global ambitions, it seems you have been doing something wrong.

10 May 2014 - 1:20am

Barclays to fight US$453m power fine in US court

Barclays plans a fight with the US energy regulator which imposed a record US$453 million (HK$3.5 billion) fine. Photo: Reuters

Barclays will contest a record US$453 million (HK$3.5 billion) fine imposed by a US energy regulator against the British bank and four of its power traders, setting up a likely federal court battle.

The fines, which were upheld by the Federal Energy Regulatory Commission (FERC) on Tuesday, confirm the top US energy cop will pursue its most ambitious market manipulation case to date.

18 Jul 2013 - 12:57pm

Defeated by a Barclays press release

Barclays' lastest report is on Wealth Insights: Origins and Legacy: The Changing Order of Wealth Creation. Photo: AFP

Every time an excited press release arrives about a new report from a public relations or corporate communications executive representing a private bank, my hopes rise. Please, please may this one contain some nugget of inspiration I can tease into something interesting.

19 Jun 2013 - 7:07pm

Barclays fires back, says hostility to banks unhealthy

Barclays and the banking industry in general have been under pressure for their role in the recent global financial crisis. Photo: Reuters

Barclays chairman David Walker has hit back against what he said has become the “political and media industry” of badmouthing banks and bankers, and insisted on banks’ vital role in a free-market economy.

“The persistence of hostility to banks and bankers, much more marked in Europe than elsewhere, is in my view seriously unhealthy,” he told the a Montreal conference.

11 Jun 2013 - 10:19am

Barclays bank returns to profit in first quarter

Barclays is back in the black, although earnings were dented by restructuring costs. Photo: EPA

British bank Barclays, seeking to fix its battered reputation caused by last year’s Libor rate-rigging scandal, said Wednesday that it returned to profit in the first quarter with net earnings of 839 million pounds (HK$9.94 billion) after a loss in the first three months of last year.

24 Apr 2013 - 3:45pm

Barclays chief tells staff to behave ethically or quit

Antony Jenkins, chief executive officer of Barclays Plc. Photo: Bloomberg

Barclays chief executive Antony Jenkins has ordered employees to sign up to a new ethical code of conduct or quit, as he seeks to draw a line under last year's damaging Libor manipulation crisis.

19 Jan 2013 - 5:12am

UBS fined HK$12b for rigging global interest rates

UBS employees paid bribes to rig Libor rates, the FSA said. Photo: AP

UBS, Switzerland's biggest bank, must pay about 1.4 billion Swiss francs (HK$11.84 billion) to US, British and Swiss regulators for trying to rig global interest rates, triple the penalties levied against Barclays.

20 Dec 2012 - 3:19am

Chinese investors buy 80pc of AIG plane unit for US$4.2b

A Qantas A380 takes off from Sydney airport. AIG has moved a step closer to refocusing on its core insurance business with a deal selling up to 90 per cent of its ILFC aircraft leasing business to a Chinese consortium. Photo: Bloomberg

A Chinese group agreed to buy 80.1 per cent of American International Group’s plane-leasing unit for US$4.23 billion in the nation’s largest acquisition of a US company.

10 Dec 2012 - 5:56pm

Chinese investment institutions remain silent over Libor lawsuits

Barclays agreed to pay fines to US and British regulators after admitting its traders tried to toy with the Libor setting.

As lawsuits mount from aggrieved parties in the Libor scandal, one party is keeping tight-lipped: Chinese investment institutions that are wary of revealing too much about their dealings.

17 Sep 2012 - 5:03am

CDB stake in Barclays-ABN limited to 6.7pc as investors boost holdings

China Development Bank will see its stake in a merged Barclays Bank-ABN Amro limited to 6.7 per cent, from a maximum of 7.7 per cent, after shareholders in the British lender bought new shares in it as part of the acquisition agreement with the mainland firm.

26 Jul 2007 - 12:00am

Delivering excellence lies in checking the detail

Whether inspecting furniture factories in China or supervising office fit-outs, attention to quality is vital, says MCV Asia senior project manager Mary Chow

25 Feb 2006 - 12:00am