Barclays’ Del Missier to face MPs alongside regulators

FORMER Barclays operations chief Jerry del Missier will appear in front of the Treasury select committee on Monday afternoon, it was announced yesterday.

He quit the firm last Monday after just 11 days in the job, having taken responsibility for his role in the Libor-fixing scandal that saw his long-term colleague Bob Diamond also resign from the bank.

Other witnesses scheduled to appear at the same hearing include Lord Turner, the head of the Financial Services Authority, as well as the regulator’s head of its prudential business unit, Andrew Bailey and its acting director of enforcement and financial crime, Tracy McDermott.

Meanwhile a banking analyst claimed yesterday that Lloyds Banking Group could face a bill of £1.5bn relating to the Libor-fixing scandal. Liberum Capital’s Cormac Leech said “the potential litigation liability is likely to extend well beyond each bank’s own customers”, leaving Lloyds open to substantial claims from class action lawsuits.