Former Barclays bankers call boss a ‘pie’ and dolly bird

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A financier involved in a £ 1.6 billion court battle with Barclays has been called “pie” and “that dolly bird” by bank executives, a court said.

The comments about Amanda Staveley were made on phone calls in 2008 when the bank was trying to raise billions of pounds in the Gulf States.

Ms. Staveley participated in discussions with investors to help negotiate the agreement.

But former Barclays boss Roger Jenkins told the court that she was a “complete stranger” when it came to such deals.

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In a written statement from a witness, Mr. Jenkins said that at the time, Ms. Staveley had received “some publicity” for her role in brokerage investment in Manchester City.

But he told Judge Waksman that to his knowledge, she had “no qualifications in finance”.

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Legend

Former Barclays banker Roger Jenkins called financier Amanda Staveley “pie”


The judge learned that Mr. Jenkins had called Ms. Staveley a “pie” when he made a phone call in October 2008 with his Barclays colleague Richard Boath.

Mr. Boath called her “that wagon bird” during the call.

Staveley, 47, complained about the behavior of Barclays bosses when negotiating investment deals during the crisis 12 years ago.

She says that Barclays agreed to provide an unsecured £ 2 billion loan to Qatari investors, but that the loan was “hidden” from financial markets, shareholders and PCP Capital Partners, a private equity firm that ‘she directs.

PCP is suing the bank for up to £ 1.6 billion in damages.

Staveley, who is currently working on a deal that could see a Saudi consortium take control of Newcastle United football club, said the PCP introduced Manchester City owner Sheikh Mansour to Barclays and “subscribed To invest 3.25 billion pounds sterling.

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She says the PCP owes money for the work it has done. Barclays disputes PCP’s claim and claims that it is made “of sand”.

Jenkins said, “Ms. Staveley, as the PCP leader, had received some publicity in 2008 for her role in brokerage of Abu Dhabi’s investment in a large English football club, but she was a complete unknown in terms of large complex and complex public market. transactions of the type that we undertake. ”

“Self-advertising”

At the time, he was executive president of Barclays for operations in the Middle East. “As far as I know at the time, PCP did not employ experienced analysts familiar with the financial sector and Ms. Staveley herself had no qualifications in finance. ”

He said he had little knowledge of Ms. Staveley’s background in 2008. “I knew she had owned a restaurant at a racetrack before and that was how she had connected with people from the Middle East” , did he declare.

“I knew that she had played a role in the purchase of Manchester City by Sheikh Mansour. ”

He added: “My assumption and my hope at the time was that Barclays would deal with Sheikh Mansour directly as principal, not through advisers.

“I never understood that PCP was acting as a principal or potential investor in its own right. “

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Legend

Former Barclays banker Richard Boath called Amanda Stavely “that dolly bird”


Jenkins said his impression was that Ms. Staveley was looking to use her involvement in the agreement to “generate publicity for herself.” He described how Ms. Staveley arrived for an early morning meeting accompanied by a photographer.

PCP counsel referred to the telephone conversation between Mr. Boath and Ms. Staveley at the start of the trial.

The details of the words used appeared on Thursday when Mr. Jenkins began testifying and a transcript of the appeal was made available to journalists.

Mr. Boath said on the October 2008 appeal: “Yes. Now, that dolly bird that represents – is that – what is its name? “, Showed the transcript.

Mr. Jenkins replied, “Amanda Staveley. ”

Later in the call, Mr. Jenkins said, “Well, I’m – you know, I’m going to call the pie; I was going to call the pie. ”

Mr. Boath asked, “Who is the pie?” Jenkins replied, “Amanda.”

In February, Mr. Jenkins, Mr. Boath, and another former Barclays boss, Thomas Kalaris, were cleared of fraud over a £ 4 billion investment deal with Qatar at the height of the banking crisis.

The Serious Fraud Office alleged that the lucrative conditions granted to Qatar were hidden from the market and from other investors through fake advisory service agreements.

But the three men were acquitted by jurors after a five-month trial at the Old Bailey.

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