Former Barclays boss tells judge he is ‘an honest man’

A former Barclays boss has told a judge analysing the latest round of a £1.6 billion High Court fight featuring the bank and a businesswoman that he is “an honest man”.

Roger Jenkins told Mr Justice Waksman that he took exception if his honesty was being called into question.

He was giving evidence at a trial involving businesswoman Amanda Staveley.

Ms Staveley, who in recent months has been involved in brokering a deal which could see a Saudi consortium take control of Newcastle United, has made complaints about the behaviour of Barclays bosses when negotiating investment deals during the 2008 financial crisis.

She says Barclays agreed to provide an unsecured £2 billion loan to Qatari investors but the loan was “concealed” from the market, shareholders and PCP Capital Partners, a private equity firm she runs.

PCP is suing the bank and wants £1.6 billion in damages.

Amanda Staveley legal action
Barclays is disputing PCP’s claim (Ian West/PA)

Ms Staveley says PCP introduced Manchester City owner Sheikh Mansour to Barclays and he “subscribed” to invest £3.25 billion.

She says PCP is owed money for the work it did. Barclays disputes PCP’s claim and says it is made “of sand”.

Mr Jenkins was on Friday questioned by a barrister leading PCP’s legal team about discussions and agreements with Qatari investors.

Joe Smouha QC said Mr Jenkins had not given an “honest, fair or complete” answer to a question.

“I am an honest man,” Mr Jenkins told the trial.

“If you are calling into question my honesty, I will take exception to that.”

Amanda Staveley legal action
Amanda Staveley is involved in a High Court battle with Barclays (Victoria Jones/PA)

Mr Justice Waksman has heard that Mr Jenkins referred to Ms Staveley as “the tart” during an October 2008 telephone call with another former Barclays boss Richard Boath.

Mr Boath referred to her as “that dolly-bird” during the call.

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 2008 banking crisis.

The Serious Fraud Office had alleged that lucrative terms given to Qatar were hidden from the market and other investors through bogus advisory service agreements.

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

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