Barclay’s dealmaker Roger ‘Big Dog’ Jenkins leaves with a £50m payoff after helping bank secure a multi-billion pound bailout
Barclays dealmaker Roger ‘Big Dog’ Jenkins walked away from the bank with a £50million pay-off for his work in sealing the multi-billion pound bailout which saved it from Government hands, he revealed yesterday.
The 64-year-old called top financier Amanda Staveley a ‘dolly bird’ and a ‘tart’ in phone calls as he fought for a £7billion invest-ment in autumn 2008 after the financial crash.
Staveley has accused Jenkins and other executives of making sexist comments and edging her out of the deal, as part of a £1.6billion claim in the High Court in London.
£50m pay-off: Barclays dealmaker Roger ‘Big Dog’ Jenkins walked away from the bank after helping seal a multi-billion pound bailout
Jenkins had contacted a fellow executive to demand a pay-off for his role in the October cash call, even before it had been signed off by shareholders.
Yesterday he revealed to the court he received a ‘significant’ exit package of ‘more than £50million’ taking into account his role in landing the deal.
Staveley’s firm PCP has argued that this explains why Jenkins was prepared to act in a ‘dishonest’ or ‘reckless’ fashion to get the deal over the line. He left the bank in April 2009 shortly after the deal was completed, acting as an adviser until 2010.
Last month former Barclays executive Stephen Jones resigned from his role as boss of UK Finance, the banking industry’s lobby group, after he was accused of making ‘deeply unpleasant personal comments’ about Staveley.
The content of the phone conversations will be made public tomorrow after an application to the court by the Daily Mail.
Staveley claims Barclays told her six times that PCP and her investors from Abu Dhabi would be offered the same deal as other major investors.
Instead the bank misled markets and funnelled an extra £346million in secret fees to the Qataris, according to court documents. Barclays says the fees were legitimate.
The case continues.