Barclays has “repeatedly let down society” and needs to clean up its culture in the wake of the £290m fine for rigging Libor, the Church of England said on Wednesday
The annual investment report by the Church Commissioners shows that the discussions with Barclays will be reviewed in July, a year on from the interest rate scandal that led to the departure of the chairman Marcus Agius, the chief executive Bob Diamond and chief operating officer Jerry del Missier.
In the report the commissioners, working with the Ethical Investment Advisory Group (EIAG), said they had “commenced an intensive engagement with Barclays seeking robust assurance that, having repeatedly let down society with its conduct, Barclays is making a determined and successful effort to effect a fundamental turnaround in culture”.
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(Guardian) Barclays has 'repeatedly let down society', says the Church of England
Barclays has “repeatedly let down society” and needs to clean up its culture in the wake of the £290m fine for rigging Libor, the Church of England said on Wednesday
The annual investment report by the Church Commissioners shows that the discussions with Barclays will be reviewed in July, a year on from the interest rate scandal that led to the departure of the chairman Marcus Agius, the chief executive Bob Diamond and chief operating officer Jerry del Missier.
In the report the commissioners, working with the Ethical Investment Advisory Group (EIAG), said they had “commenced an intensive engagement with Barclays seeking robust assurance that, having repeatedly let down society with its conduct, Barclays is making a determined and successful effort to effect a fundamental turnaround in culture”.
Read it all.