Barclays’ former wealth chief executive Tom Kalaris has lost an appeal against the Financial Conduct Authority's ban on him holding senior management roles in the UK financial sector.
In a decision notice on Tuesday (27 August), the Upper Tribunal ruled in the FCA's favour, declaring Kalaris had not been honest when questioned about the bank's controversial capital raising with Qatar. Kalaris and two other former high-ranking Barclays executives were acquitted in 2020 of charges that they facilitated the funnelling of secret fees to Qatar in exchange for rescue financing in 2008. In 2022, the FCA rejected an application from Saranac Partners to approve Tom Kalaris for the roles of CEO and executive director, citing reasonable grounds to believe that he had not been...
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