Barclays’ chief executive, Jes Staley, is under investigation by the FCA and PRA for his role in trying to uncover a whistleblower at the bank.

Mr Staley allegedly asked Barclays' head of security, Troels Oerting, to identify a whistleblower who had sent two letters to the board and a senior executive in June 2016 raising concerns about the conduct of a senior employee. The letters were purportedly about Tim Main, Mr Staley’s friend and former colleague from his 34 years at JP Morgan.

While Barclays treated the letters as a whistleblowing matter, Mr Staley sought to identify the author, not least as he considered the letters to be an "unfair personal attack" on Mr Main, a senior employee of the bank. He was subsequently informed internally, however, that such actions were not appropriate.

It was rumoured that Mr Staley was at risk of removal from office at the AGM, but that did not materialise.