Former Barclays banker admits #Qatar deal was ‘close to the line’ | Financial Times

Former Barclays banker admits Qatar deal was ‘close to the line’ | Financial Times:

The former “gatekeeper” of Barclays’ relationship with Qatar has admitted that the deal at the heart of a high-profile criminal trial was “close to the line”. 


Roger Jenkins, who is on trial with two other former Barclays colleagues for fraud, told a London court on Tuesday that he was “pleasantly surprised” that the bank’s chief executive at the time, John Varley, and its board signed off a £322m side deal with Qatar at the height of the financial crisis, given the reputational risks of a “handshake” agreement that would not yield month-by-month itemised services.

Mr Jenkins, who was recommended for a £25m bonus for arranging emergency investment by Qatar into the bank in June and October 2008, is now in the dock, along with his former colleagues, Tom Kalaris, who headed the bank’s wealth team, and Richard Boath, the former co-head of financial institutions at Barclays’ investment bank. They deny fraud charges, which carry a maximum 10-year sentence.