Barclays chairman Marcus Agius has rejected claims that Barclays was being “wrecked” by poor corporate governance, claiming he was told by an FSA official it was actually the “best in class”.
Last week, former Barclays chief executive Bob Diamond denied claims the FSA expressed a lack of confidence in the bank’s senior executive team earlier this year but admits the regulator had concerns about “culture issues” further down its management structure.
During a Treasury select committee evidence session this morning, committee chair Andrew Tyrie asked Agius (pictured) whether shareholders complaining that Barclays was being “wrecked” by poor corporate governance had a case.
Agius said when the FSA undertook a governance review at Barclays “in recent times”, they found it to be satisfactory.
He added: “I can go further if I can break a confidence. On the way to the lift to show the official down, she said ‘I usually fear these interviews with banks because I never had good news to give. I was happy with yours. I did have good news on the governance of Barclays as far as we see it. In fact I would rank you best in class’. This is from the FSA.”