Libor Rate

Libor investigation leads to Barclay's Ousters

Top executive and New York trader out

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The fallout from an investigation into the attempted manipulation of global benchmark interest rates has again rocked Barclays Plc, as the bank recently ousted a top executive and a trader in New York for their roles in the scandal, according to regulatory filings obtained on Tuesday.

Barclays formally notified the Financial Industry Regulatory Authority on August 29 that the executive, Ritankar "Ronti" Pal, was "discharged" on July 30 because the bank had a "loss of confidence" in him as a manager for failing "to properly supervise individuals on his team", one of the filings stated. His departure had been previously reported but no explanation had been given.