Compliance Officer to Leave Barclays -- WSJ
September 16 2017 - 3:02AM
Dow Jones News
By Max Colchester
This article is being republished as part of our daily
reproduction of WSJ.com articles that also appeared in the U.S.
print edition of The Wall Street Journal (September 16, 2017).
The senior compliance official responsible for Barclays PLC's
whistleblower program, Jonathan Cox, is set to depart after
settling an employment dispute with the bank, according to a person
familiar with the matter.
Mr. Cox's dispute was scheduled to be heard earlier this week at
a London tribunal, but it was withdrawn. The bank wouldn't disclose
what the dispute concerned or whether it was linked to the
continuing investigation into Chief Executive Jes Staley's attempts
to unmask a whistleblower. Mr. Cox couldn't be immediately reached
for comment.
Mr. Staley is under investigation by U.K. and U.S. regulators
after he tried to reveal the identity of a whistleblower who
criticized his hiring of a longtime associate for a top job. The
U.K.'s Prudential Regulation Authority and Financial Conduct
Authority are probing both Mr. Staley and the bank over its
treatment of whistleblowers.
Mr. Staley already has apologized for his actions and the board
has said it will dock some of his pay. Barclays officials expect
the regulators to announce their findings next month, but the
timing remains in flux.
Mr. Cox joined Barclays in 2013 from the U.K.'s Metropolitan
Police, where he managed a witness-protection unit. He was later
promoted to the role of global head of whistleblowing. Reuters
first reported the news of his departure.
The regulators' treatment of Mr. Staley is being closely watched
as a litmus test for future punishments under the U.K.'s new "fit
and proper" regime for senior bank managers.
Write to Max Colchester at max.colchester@wsj.com
(END) Dow Jones Newswires
September 16, 2017 02:47 ET (06:47 GMT)
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