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Barclays investors must speak up It could be a bruising election for Jezza and I don't mean Corbyn.
I am referring to Jes Staley, chief executive at Barclays, who has been embroiled in a whistleblower scandal and who is facing re election by shareholders at the bank's annual meeting this week. There is almost zero chance that Staley will lose his post, but votes sale pandora bracelet against the chief executive and even more abstentions are still likely napier jewelry to lead to an embarrassing result. A less than convincing victory for Staley will weaken any claim he may hope to have to be a strong and stable leader for Barclays. Staley's mistake was in his handling of an anonymous whistleblower who alleged poor conduct somewhere in the bank (details remain private). Staley set out to find the whistleblower's identity, using Barclays' security department Staley set out to find the whistleblower's identity, using Barclays' security department. This is contrary to all decent boardroom practice and to any common sense reading of Barclays' own code of conduct. It bears repeating that a facility for whistleblowing is an essential feature of even a half well run company. Responsible bosses know that whistleblowers may be their best chance of being alerted to a problem. Whistleblowers themselves must feel confident they can report their concerns without fear of a witch hunt. The apparent merits or otherwise of a particular whistle blower's claim are not relevant. What matters is a system that is abided by to the letter, so that if genuine misconduct does occur, whistleblowers can come forward. Following the litany of horrors that emerged from the world of finance during and since the crisis bankers above all should understand this logic. Staley admitted his 'errors' last month. The Barclays board docked his bonus but said it believed he had made an 'honest' mistake. But even an honest mistake in this field is a very ill omen. Staley has been punished internally and he may yet face censure from City watchdogs. Shareholders, who may places that sell pandora bracelets have hoped Barclays was getting closer to shaking off its tarnished reputation, have also suffered. They also have a duty. After the financial crisis it was said, loudly, and quite correctly, that professional investors notably the City institutions with the appropriate skills and resources should have been taking a more active and responsible role in the bank they owned. Institutional shareholders have a duty to be responsible stewards of the companies in which they invest. Shareholders in Barclays have an opportunity this week to show they remember that lesson in the way they cast their votes and the questions they ask. It is an opportunity they must seize with both hands. Most watched Money videos The new Nissan Qashqai will be in the showrooms from next month Jaguar Land Rover teases the opening of its classic car tour Instant karma!: Thief stopped by lorry driver quick thinking Investing Show: pandora gold charms sale Are stockmarkets too expensive? Rolls Royce showcases its bespoke capabilities in stylish car Is this the best car used advert ever? Vitara gets CGI treatment Unsettling digital safety advert will make you think twice online The world largest luxury car Machine in Singapore Footage showing the amazing evolution of the Porsche 911 Carrera Should you worry about the election and your investments? How should investors deal with the UK election result? Investing Show: John Redwood on whether Trump can deliver Sainsbury's to buy convenience rival Nisa in 130m deal,. Daily Briefing: Possible deal as Scottish Widows in line. Jaguar Land Rover jobs drive for engineers who can create. MARKETS LIVE: FTSE up as David Davis begins Brexit talks. ALEX BRUMMER: Hammond must be heard 'failure to secure. Private equity giant Blackstone backs UK property by. Brexit vote fuelled 146bn betting frenzy in City amongst. Women's retailer Bonmarch suffers 40% profits fall as. Britain's holiday rental market booms as the weak pound. Co op Bank in 'advanced talks' with investors over. Standard Life and Aberdeen Asset Management approve. MIDAS SHARE TIPS UPDATE: Vital signs are improving at. Brexit critic LSE professor appointed to the Bank of. A surprise surcharge AFTER you have paid it's the. Roaming may now be 'free' when you're abroad but you. 'Brexit is a lose lose proposition, harmful both to. Sainsbury's to buy convenience rival Nisa in 130m deal,. North South divide opens up in buy to let market as study. MOST READ MONEY PreviousDo you want to automatically post your MailOnline comments to your Facebook Timeline? Your comment will be posted to MailOnline as usual We will automatically post your comment and a link to the news story to your Facebook timeline at the same time it is posted on MailOnline. To do this we will link your MailOnline account with your Facebook account.
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