LONDON, April 28 (Reuters) – Barclays (BARC.L) has put its $1.25 billion share buyback plan on hold until talks with U.S. regulators over a major trading blunder have been resolved, piling early pressure on the British bank’s new Chief Executive C.S. Venkatakrishnan.
Barclays disclosed on March 28 that it had exceeded a U.S. limit on sales of structured products, triggering a loss and a potential restatement of its 2021 accounts.
Venkatakrishnan, who is known inside the bank as Venkat, told reporters that Barclays had found no evidence to date of deliberate misconduct relating to the error and that the bank was working with all its regulators.
