Barclays CEO Is Probed Over Bid to Unmask Whistleblower

LONDON — Barclays PLC Chief Executive Jes Staley is under investigation by U.K. and U.S. regulators after he tried to unmask a whistleblower who criticized his hiring of a longtime associate for a top job.

The London bank said Monday it had also launched its own investigation into the matter.

Authorities are probing Mr. Staley’s actions in trying to identify the source of an anonymous letter that criticized the hiring of Tim Main, who was named in 2016 as head of the financial institutions group at Barclays, according to people with knowledge of the events. The letter also raised questions about Mr. Staley’s dealings with him when they worked together at J.P. Morgan Chase & Co.

The U.K.’s Prudential Regulation Authority and Financial Conduct Authority are probing both Mr. Staley and the bank over its treatment of whistleblowers Barclays said in a statement. The bank added that it had issued a formal reprimand to Mr. Staley and would make a “significant” cut to his bonus. It is also conducting its own review into Barclays’s controls.

Read on.

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