BARCLAYS PLC (BARC)

BARCLAYS PLC (BARC)

Blog posts

Barclays Stockbroking Complaints

Several newspapers and on-line news services have reported this week on the debacle at Barclays. They launched a new “Smart Investor” site to replace their Barclayshare share trading service. The complaints range from failure to advise new account log-in details, support service uncontactable, old features missing (or perhaps simply moved elsewhere and not easily found in some cases), higher charges (fees restructured), to some account types or share holdings being no longer permitted. Barclays have integrated it with their on-line bank account ...

TD Direct Being Sold?

TD Direct, a favourite execution-only stockbroker among private investors, is likely to be sold according to a report by Sky News. There are a number of suggested bidders but one of them is Barclays Bank who run a similar platform under the name Barclays Stockbrokers. With TD Direct having £13 billion of assets under management, a merger of those platforms would still leave the combination somewhat smaller than Hargreaves Lansdown, the market leader. Mergers and restructurings are the name of the game ...

More Bad News for Banks and their Investors

If there are any private investors still invested in major UK listed banks, last week (w/e 30/1/2016) was yet another for disillusionment. In the Financial Times, Lex hit the nail on the head when he said "The one-offs keep on coming. If one did not know better, one might suspect them of being two-, three-, or more-offs". He was referring to Royal Bank of Scotland (RBS), but other banks likewise posted bad news during the week. Let's take them in turn: RBS ...

Barclays, Tesco and MoPowered

Barclays, Tesco and MoPowered - two big companies and one a typical new AIM company which has yet to show it can make a profit - but all three are under the weather in the last couple of days. Barclays have today (23/9/2014) been fined £38m by the Financial Conduct Authority for failing to ensure that clients money in the investment bank was kept separate from the banks own assets. When I joked in my local Barclays Bank this morning that I ...

Remuneration at Barclays and Persimmon

Barclays Bank Annual General Meeting is due next week on the 24th April. Pay of bankers is always controversial and Barclays is no exception. Pay has been going up but performance has gone down, and a rights issue is required to strengthen the company's balance sheet. The CEO, Antony Jenkins, has waived his bonus for last year, but that has not placated investors. The bonus pool has been increased and "Role Based Pay" introduced to avoid restrictions imposed by the new ...

Financial repression to continue

Are you feeling subject to financial repression? You should be because it's the phrase used to describe how the Government reduces it's debts by lowering interest rates to a level that is negative in real terms. Anyone saving in a bank account or building society is having their savings eroded this way because they are not getting a real return. Bank base rate has been at the historically exceptional rate of 0.5% for some time and high street banks are as ...

Barclays – Who benefits?

Barclays Bank announced their final results yesterday. The results did not match expectations and the shares fell 4% on the day. The national media led with the story that the company had still increased the bonus pool even so, and that the company now pays out more in bonuses than it pays in dividends to shareholders. The CEO, Antony Jenkins,  gave the usual excuse for the high pay levels - that they need to compete on the international scene for top class ...

AGM Reports

Barclays PLC (BARC) AGM 2013 Report

I attended the Annual General Meeting yesterday of Barclays PLC at the Royal Festival Hall, London at 11.00 am. The meeting was well organised with clear directions from local transport links, a very professional display in the entrance hall showing the future direction and past glories of Barclays, drinks were laid on for shareholders and a very relaxed atmosphere was encouraged. Makes me wonder how much that all cost! The AGM started promptly with approximately 750 shareholders present and commenced with a short ...

Barclays (BARC) AGM Report 2012 – emphasises the need for a 75% vote on remuneration

Retail investors in Barclays showed their displeasure on the remuneration of top bankers on Friday. ShareSoc had previously issued a press release urging shareholders to vote against the remuneration report (see www.sharesoc.org/ShareSoc_Press021_Barclays.pdf ). About 1000 investors attended the meeting at the Royal Festival Hall, including ShareSoc Director David Stredder who spoke at the meeting. He also did an interview for ITV News before the meeting, and one for the Daily Telegraph which put a video of it on this web page: www.telegraph.co.uk/finance/newsbysector/banksandfinance/9231562/Ba... The ...

ShareSoc News

ShareSoc comments on the Barclays LIBOR rate manipulation debacle and Diamond’s pay.

PRESS RELEASE 28 (04/07/2012) Sharesoc, the UK Individual Shareholders Society, believes the announcement by Chancellor George Osborne of an inquiry into Barclays Bank and other banks’ LIBOR rate manipulation to be chaired by Andrew Tyrie, Chairman of the Treasury Select Committee is a step in the right direction. However, the Society contends that this rigging of the market is but a small part of the ongoing banking fiasco, the seeds of which were first sown some twenty or more years ago. David Blundell, Chairman ...

ShareSoc Recommends Voting Against Barclays Remuneration Report

PRESS RELEASE 21 (09/04/2012) ShareSoc (the “UK Individual Shareholders Society”) welcomes the call by PIRC (“Pensions Investments Research Consultants”) for shareholders to vote against the Remuneration Report at Barclays. We agree that the bonus and other pay arrangements for the CEO, Bob Diamond, and of the other senior executives are inappropriate. We therefore advise our members to vote against the Remuneration Report. Our stance is that the aggressive bonus arrangements at all banks should be restrained as they were one cause of the ...

Media Mentions

Reuters, 28 Nov 2019, Barclays Cuts CEO Pension Perks

Peter Parry comments on CEO pension payments: https://www.euronews.com/2019/11/28/barclays-joins-rivals-with-cuts-to-ceo-pension-perks