Barclays Investigating After Private Banking Firing

Showing You The Door

Barclays has dismissed a Singapore- based private banker and is helping authorities investigate potential wrongdoing affecting clients’ assets.

Bloomberg reports that the banker was fired on February 6th and the company is working with the white-collar crime investigation agency of the Singapore police force to probe the matter, according to Eugenia Koh, a Singapore-based spokeswoman for Barclays.

The British bank dismissed Jagdish Kale, who handled accounts of non-resident Indian customers, for alleged misuse of client money, Singapore’s Business Times reported Tuesday. Koh said a 'very small number of clients' were affected, without specifying the amount of funds involved.

Kale, who was hired from UBS AG in 2010, declined to comment immediately when contacted on his mobile phone and he didn’t answer subsequent calls.

Hit the link below to access the complete Bloomberg article:

Barclays Investigating Singapore Private Banker After Firing

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