Barclays banker unaware of £320m services deal with Qatar

Pedro Gonçalves
Barclays banker unaware of £320m services deal with Qatar

Barclays' head of sovereign wealth funds in 2008 said in court she did not know about deals for additional services from Qatar after it invested billions of pounds in the British bank during the credit crisis.

Gay Huey Evans, who is currently deputy chairman of the Financial Reporting Council, said Barclays' former executive chairman of investment banking Roger Jenkins was the "gatekeeper" for the bank's relationship with Qatar.

"Roger Jenkins was the gatekeeper for Qatar. Anything that went to Qatar had to go through him," she said to London's Southwark Crown Court during the criminal trial of four former senior executives, including ex-chief executive John Varley.

Varley, Roger Jenkins, Tom Kalaris and Richard Boath are charged with conspiracy to commit fraud by false representation in a case that revolves around how Barclays raised more than 11 billion pounds ($14.6 billion) from investors, including Qatar, to stave off a state bailout more than a decade ago.

She was unaware of services provided by Qatar despite a so-called advisory services agreement with Barclays, according to evidence read  by Annabel Darlow QC for the UK's Serious Fraud Office.

In testimony read by prosecutors, Huey Evans said she would have been "pushier" about what services Qatar was providing if she had known about the deal.

"I am not aware of any advisory services provided by Qatar apart from the introduction of Sheikh Mansour (of Abu Dhabi) to the October 2008 fund raising," she was quoted as saying.

The court has been told that Qatari investors were paid a separate 66 million pounds for introducing Abu Dhabi's Sheikh Mansour bin Zayed al-Nahyan to Barclays' second capital raising in October 2008.

The trial continues.