Barclays chief faces bonus cut in whistle-blower probe

The stock has fallen about 4.1 per cent this year, giving the company a market value of £36 billion

Barclays PLC Chief Executive Officer Jes Staley will be reprimanded and the bank will cut his pay as regulators begin to investigate how he tried to unmask a whistle-blower last year.

The UK Financial Conduct Authority is investigating both Staley’s individual conduct relating to the complaint and the bank’s responsibilities and controls in connection with whistleblowing, the bank said in a statement on Monday. Staley has admitted his error and formally apologised to the board, Barclays said.

Staley tried to unmask a tipster who alerted the bank to a personal matter involving a senior executive, the bank said, confirming what a person