It will be investigated by the UK ’s Financial Conduct Authority and the Prudential Regulation Authority over allegations that its CEO , Jes Staley , attempted to discover the identity of a person who raised concerns about a senior executive . The bank ’s “ controls and culture ” for whistleblowers will also be investigated . In an email to staff when he was appointed, he said: “The trust of our customers and clients [...] is the foundation of our success, the most valuable quality we can nurture and the key to unlocking shareholder value.” Barclays has confirmed that Staley will be formally reprimanded and will see his bonus , which was expected to be worth up to £ 1.9 m ( $ 2.3 m ) and a long - term pension plan payment of up to £ 2.8 m , significantly reduced . Smith , who became CEO in December 2015 , has apologised to the bank ’s board .
It will be investigated by the UK ’s Financial Conduct Authority and the Prudential Regulation Authority over allegations that its CEO , Jes Staley , attempted to discover the identity of a person who raised concerns about a senior executive . The bank ’s “ controls and culture ” for whistleblowers will also be investigated . Barclays has confirmed that Staley will be formally reprimanded and will see his bonus , which was expected to be worth up to £ 1.9 m ( $ 2.3 m ) and a long - term pension plan payment of up to £ 2.8 m , significantly reduced . Smith , who became CEO in December 2015 , has apologised to the bank ’s board .