BusinessBusiness RecoveryBarclays makes complaint to authorities about Baker Tilly

Barclays makes complaint to authorities about Baker Tilly

Barclays complains to Financial Services Authority regarding an alleged breach of client confidentiality by a Baker Tilly employee

BARCLAYS HAS MADE a complaint about an alleged breach of client confidentiality by a Baker Tilly employee seconded to the bank, which has also been received by the ICAEW.

It is alleged that a Baker Tilly employee seconded to Barclays took information about one of the bank’s clients and handed it to the firm.

The Times claims the departure of the firm’s head of restructuring and recovery, Tracey Callaghan, is linked. However, a spokesperson at Baker Tilly would not confirm or deny this was the case. She said Callaghan had “retired” from the company at the end of April.

Barclays complained to its regulator the FSA. Accountancy Age understands that a complaint has also been received by the ICAEW.

A statement from Barclays said: “Barclays is aware of this incident and is carrying out a full and detailed investigation. We are taking this matter extremely seriously and have reported it to the relevant authorities.”

Many insolvency divisions at firms second their junior staff to banks so they can see how the process works from the secured creditor’s viewpoint.

It is understood that Barclays will review Baker Tilly’s position on its panel of insolvency firms, from which it allocates work. A review could take place this year, and the current complaint could impact on Baker Tilly’s position on the panel.

Related Articles

RBS hires PwC to investigate GRG division

Accounting Firms RBS hires PwC to investigate GRG division

2y Richard Crump, Writer
Baker Tilly Leeds adds restructuring partner

Accounting Firms Baker Tilly Leeds adds restructuring partner

3y Richard Crump, Writer
Personal insolvencies to hit ten year low, predicts Baker Tilly

Business Recovery Personal insolvencies to hit ten year low, predicts Baker Tilly

3y Richard Crump, Writer
Legal expert joins Baker Tilly's restructuring service

Accounting Firms Legal expert joins Baker Tilly's restructuring service

3y Kevin Reed, Writer
Simmonds joins others in move to Quantuma from Baker Tilly

Business Recovery Simmonds joins others in move to Quantuma from Baker Tilly

3y Kevin Reed, Writer
Moore Stephens insolvency head to join Baker Tilly

Accounting Firms Moore Stephens insolvency head to join Baker Tilly

3y Richard Crump, Writer
IPs in a predicament over interest rate swap mis-selling

Business Recovery IPs in a predicament over interest rate swap mis-selling

3y Robin Henry
Easterby latest to leave Baker Tilly for Quantuma

Accounting Firms Easterby latest to leave Baker Tilly for Quantuma

3y Richard Crump, Writer