Barclays Ordered to Reveal Names of 208 Staff Linked to Libor Scandal

Barclays Ordered to Reveal Names of 208 Staff Linked to Libor Scandal

Stephen: Let’s hope this list includes the bank’s owners and senior executives, who are really responsible for this whole Libor farce.

Barclays faces having to reveal the names of 208 staff linked to attempts by the bank to manipulate Libor at a London High Court hearing.

By Harry Wilson, Banking Correspondent, The Telegraph, UK – November 14, 2012

http://www.telegraph.co.uk/finance/libor-scandal/9676289/Judge-orders-Barclays-to-reveal-names-of-208-staff-linked-to-Libor-probe.html

Lawyers for Barclays will on Wednesday disclose the names after a High Court judge ordered the bank to hand them to the legal team of a care home operator that is suing the bank for mis-selling it complex interest rate derivatives.

The disclosure follows an attempt by Barclays to argue against the need for disclosure. However, Mr Justice Julian Flaux said on Tuesday that it was “unacceptable” to deny access to the names.

Guardian Care Homes is claiming £38m from Barclays over interest rate swaps the company alleges it was mis-sold. Barclays said: “It would be premature to comment on proceedings before the Judge has made his decision.”

The case came as former chairman Marcus Agius and ex-Lloyds chairman Sir Victor Blank were quietly dropped from David Cameron’s Business Ambassadors programme amid criticism about the body’s effectivness.

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