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“More apologies are due from Barclays’ Staley”

Letter to the Editor by Erika A. Kelton in the Financial Times, 3/13/17.

“Much has been made about Barclays chief executive Jes Staley’s apology to shareholders for the witch hunt he undertook to identify an internal whistleblower. Remarkably, Mr Staley has failed to apologise to the whistleblower he tried to track down or to the bank’s employees whose confidence in compliance mechanisms has been shaken by his conduct.

More than anything, Mr Staley needs the support and confidence of his employees if he is ever to become an effective leader and move Barclays forward. Barclays’ employees must know without a doubt that the CEO and senior management will not track them down when they report concerns or complaints. If Mr Staley cannot recognise that, he should resign.”

Read the full letter here (behind a paywall).

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