Barclays Board to Make Significant Pay Cut for CEO

The transcript discusses the FCA and PRA investigations into Barclays CEO Jes Staley's attempt to identify a whistleblower. The board believes it was an honest mistake and has issued a reprimand and adjusted Staley's compensation. Chairman John McFarlane expressed disappointment and announced an independent review of Barclays' processes. Staley acknowledged the mistake and emphasized the importance of whistleblowing processes.

What was the main focus of the FCA and PRA's investigation into Jes Staley?

• His financial dealings

• His attempt to identify a whistleblower

• His leadership style

• His public statements

How did the Barclays board respond to Jes Staley's actions?

• They promoted him

• They ignored the issue

• They issued a formal reprimand and adjusted his pay

• They fired him immediately

What was John McFarlane's reaction to the situation?

• He was disappointed and apologetic

• He was unaware of the situation

• He was indifferent

• He was supportive of Staley's actions

What steps did the board plan to take following the investigation?

• Conduct an internal review

• Increase Staley's compensation

• Commission an independent review of processes and controls

• Close the whistleblowing program

What commitment did Jes Staley make regarding the whistleblowing process?

• To personally handle all whistleblower cases

• To eliminate the whistleblowing process

• To ensure anonymity for whistleblowers

• To identify all whistleblowers