Barclays executive unaware of £320m fees paid to #Qatar | Financial Times

Barclays executive unaware of £320m fees paid to Qatar | Financial Times:

Barclays’ head of sovereign wealth funds at the time of the bank’s emergency capital calls in 2008 knew nothing of an advisory agreement to pay £320m in fees to the Qatari sovereign wealth fund, a court has heard during a landmark fraud trial.

A jury at Southwark Crown Court heard evidence from Gay Huey Evans, the deputy chair of the UK’s accounting watchdog, who in 2008 was tasked by Barclays with developing stronger ties with SWFs. They dominated investing at the time as oil prices rocketed.

She was unaware of services provided by Qatar despite a so-called advisory services agreement with Barclays, according to evidence read on Tuesday by Annabel Darlow QC for the UK’s Serious Fraud Office.