Saturday, July 14, 2012

Barclays Apology

Barclays has come out with an apology for its customers and clients saying that they had been “let down” by the bank.

The public apology was advertised in newspaper all over Britain today and is signed by the (former) Chairman Marcus Agius.

Mr. Agius stepped down about two weeks ago after the bank was found embroiled in a rate rigging scandal. The bank’s CEO, Mr. Bob Diamond, who was criticized earlier for his compensation package, also decided to resign a day after Mr. Agius. 

The text of apology: 

'To all Barclays customers and clients,

We are truly sorry for what has happened and that you have been let down.

It is our actions now and over the coming months and years that will make the difference.

You are the lifeblood of our business, and we will not allow ourselves to be distracted from what really matters – delivering for you, day in and day out.

My colleagues work tirelessly to do just that. The Board and I thank them for their commitment and for their determination to ensure that customers and clients are at the heart of everything we do.

I also thank you for your business. It is our responsibility to earn the right to retain it'.

Other banks, including Royal Bank of Scotland,  Citigroup, JPMorgan Chase and UBS are also being investigated by British and US authorities.

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