Barclays shareholders are to vote on whether or not to re-elect Jes Staley to the financial institution’s board, amid controversy over his position in a whistleblowing affair.
It will likely be the primary time Mr Staley has confronted buyers because it emerged he tried to seek out out the identification of a whistleblower on the financial institution.
He has apologised and referred himself to regulators over the problem.
Nevertheless, some buyers say they’ll vote towards re-electing him on the agency’s annual common assembly.
Institutional Shareholder Companies (ISS), an influential shareholder advisory group, has informed buyers to abstain within the vote, citing issues over “his private involvement and accountability” within the controversy.
The group’s members maintain round 1 / 4 of the financial institution’s shares.
The Barclay’s board has already pledged to dock Mr Staley’s pay, probably by as a lot as £1.3m, or all of his annual bonus.
It additionally helps Mr Staley’s re-election, having described the chief government’s position within the affair as “an sincere mistake”.
Whereas he’s anticipated to be re-elected to the board, buyers shall be watching the margin of the vote carefully.