Financier Staveley has taken the banking giant to court claiming that she lost out on up to £1.6bn in fees after Barclays unfairly favoured other investors over her firm, PCP Capital Partners, as the bank sought to raise £7.3bn at the height of the financial crisis.However UK Finance chief Jones has become involved in the case after being accused of making “thoroughly unpleasant personal comments” about Staveley.The exact nature of which are expected to be revealed in full when he takes the stand in the case.However, it is widely reported that Jones, who was the managing director of Barclays Capital at the time, allegedly referred to Staveley’s firm PCP Capital Partners as “a bunch of scumbags” and “f***ers”.The case has been dogged by allegations of sexism against Barclays senior management and Stavely has accused bank supremos of misogyny.However Staveley’s main claim relates to a 2008 deal which saw Barclays seek investment from Qatar and Abu Dhabi as it looked to avoid a government bailout.Staveley claims her firm PCP Capital Partners arranged for a group of investors led by Manchester City owner Sheikh Mansour to join the fundraise.It was arranged for the investors to buy £3.5bn worth of Barclays’ shares – the deal, Staveley claims, was to be offered on the same terms as the one offered to Abu Dhabi.However she alleges that despite being repeatedly reassured that her investors were being offered the same deal that was not the case.Staveley’s firm made £30m from the deal – considerably less than the £1.6bn she claims PCP Capital Partners could have made.Jones has spent nearly thirty years working in financial services including roles with Santander, Barclays, Citigroup and Schroders.He was the inaugural CEO of UK Finance which was created in July 2017 following the merger of the British Bankers’ Association, Payments UK, the Council of Mortgage Lenders, the UK Cards Association and the Asset Based Finance Association. 1986 – Present 34 years. https://www.ft.com/content/76b10b56-59be-42cc-af29-2a93da74b16f Solutions Architect Barclays Bank PLC . You can,Stephen Jones, the ex-finance chief, stepped down last month fearing the lewd remarks he made would be revealed when he testified in the trial at the High Court between PCP and Barclays.Now, as UK Finance bosses feared would happen, transcripts of two telephone calls that Mr Jones, 56, had with Stephen Morse, then head of compliance at Barclays’ investment division, were released on Thursday 23 July as Mr Jones appeared in court as a witness for Barclays.
TRIAL OFFER Join to Connect. See the complete profile on LinkedIn and discover Stephen’s connections and jobs at similar companies. "He was very grateful and touched that Amanda Staveley has accepted his apology. Stephen Jones Solution Architect at Barclays Warrington, United Kingdom 464 connections. UK Finance represents more than 250 firms across the financial services industry.FCA confirms that next stage of mortgage support will affect credit scores.© 2020 CEDAC Media Limited. Solutions Architect Barclays Bank PLC . Barclays Global Network Group. Barclays Corporate. I hope. UK Finance chief executive Stephen Jones (pictured) has stepped down from his role after becoming embroiled in Amanda Staveley’s ongoing court case against Barclays. 2007 – Present 13 years. Stephen Jones made offensive comments about the businesswoman to another Barclays executive in 2008. ‘Whether she’s sleeping with him, or not, I couldn’t tell you,’ Mr Jones said.According to the Times, in another telephone call with Mr Morse two days later, Mr Jones discussed the sum that Ms Staveley was earning for her role on the deal. 1986 – Present 34 years. Report this profile; Experience. Mr Jones reportedly went on to say: ‘And she’s thick as sh*t, as well. Solution Architect Barclays. All rights reserved.This site uses cookies. Barclays Corporate. Stephen has 3 jobs listed on their profile. Barclays … 2007 – Present 13 years. Equally, it posed a serious reputational risk for someone at the forefront of City efforts to respond on Brexit and the coronavirus on behalf of British banks.When he stepped down, Stephen Jones, who had head up UK Finance since its creation three years ago, said: ‘I have apologised to Ms Staveley and to my colleagues for the comments made in 2008 and feel ... it is right I step down from my role at UK Finance.’ The Chairman of UK Finance Ben Wigley announced Mr Jones’s sudden departure in June with the statement: ‘Stephen has rightly acknowledged that the comments he made regarding Ms Staveley in 2008 were inappropriate and do not meet the standards expected of leaders in our industry.’.Barclays raised £7.3 billion from investors including Qatar and His Highness Sheikh Mansour bin Zayed al-Nahyan of Abu Dhabi in October 2008. Stephen Jones Solution Architect at Barclays Warrington, United Kingdom 464 connections. Barclays. View Stephen Jones’ profile on LinkedIn, the world's largest professional community. In one conversation, Mr Jones said that Ms Staveley, now 47, was as ‘thick as s**t’. These are external links and will open in a new window.A former Barclays executive has apologised to financier Amanda Staveley after telephone transcripts of sexist remarks were released in court.Stephen Jones made offensive comments about the businesswoman to another Barclays executive in 2008.Mr Jones quit as head of lobby group UK Finance in June after admitting he had made "thoroughly unpleasant" remarks.But details of his strong language were only released on Thursday during legal action she is taking against Barclays.Ms Staveley says her company PCP Capital is owed money for its role in Barclays' emergency fundraising in 2008, which allowed the bank to avoid a government bailout.PCP, which led a fundraising by Abu Dhabi investors, is claiming damages of up to £1.5bn for alleged deceit over the terms of parallel fundraising that Barclays undertook with Qatar.The bank denies wrongdoing and has dismissed the case as misconceived and without merit.Mr Jones' highly personal comments about Ms Staveley were made during a conversation with Barclays' then head of compliance.
Barclays Global Network Group. Continued use signifies consent.Industry reacts to next stage of support for mortgage borrowers,UK Finance: Top 10 mortgage lenders increased overall market share in 2019,UK Finance: Mortgages in arrears of 2.5%+ dropped by 3% in Q2 2020. Ms Staveley is suing Barclays over claims that her firm PCP and the Abu Dhabi investors it represented were treated unfairly during emergency fundraising at this time. You will hear from us shortly.Sorry, you have entered an invalid email.
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