By Reuters/Evelyne Wareh
A former Barclays executive has been banned from holding senior positions in the UK financial services industry for misconduct, the Financial Services Authority (FCA) said on Wednesday.
Andrew Tinney, the former chief operating officer of Barclays’ wealth and investment management division who left the bank in 2013, is contesting the FCA decision and has referred it to the Upper Tribunal, a body that hears challenges to FCA notices, for review.
The Barclays unit hit the headlines last November when the FCA fined the bank 72 million pounds ($95 million) for cutting corners when vetting wealthy clients, identified as Qatari by sources, to win a 1.9 billion pound “elephant” deal in 2011 and 2012.
($1 = 0.7578 pounds)