I have been following Deutsche Bank and Barclays as bellwethers for the troubled uber banks as global interest rates begin to climb.
I have written much about Deutsche Bank’s troubles with Libor manipulation and the strange circumstances of key executives allegedly taking their own lives.
Well, now I see that Barclays has its own strange circumstances for the bank’s Libor executives final demise. More on this in the future.
Over the last year, DB shares are down -21%, while Barclays is down only 3 percent over the same time frame. But Barclays shares followed DB’s downward trend line until very recently.
Barclays CEO Jes Staley had his pay in 2017 cut by 8.5 percent to $5.39 million, the bank reported Thursday morning. We have not seen DB’s Jon Cryon’s compensation package for 2017.
Staley’s 2016 bonus is still under pending the outcome of the Financial Conduct Authority (FCA) probe into his handling of the whistleblower incident.I am looking into whether one of the strange deaths is connected to this action.
Allegedly Staley ran his own investigation in order to identify the whistleblower.
I’ll be keeping an eye on these two banks to see. But I believe one or both could be this year’s Lehman Bros.