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Mounting departures: Barclays’ global head of financial crime steps down

Days after Barclays global general counsel (GC) of corporate and investment banking Judith Shepherd announced that she will be stepping down in the first half of this year, Barclays global head of the financial crime legal team Jonathan Peddie has quit the banking giant after nine years.

Peddie took responsibility of the legal team in May 2014 after Barclays overhauled its legal function to create a streamlined global litigation group that specialised in bribery and corruption, money laundering and international sanctions. Before this, Peddie was managing director of litigation and investigations since January 2011 and, prior to that, fulfilled the same role for the global retail and commercial banking side.

Before his time at Barclays, Peddie served as in-house counsel at Magic Circle firm Clifford Chance where he handled professional indemnity claims against the partnership. Overall, Peddie has around 24 years’ experience in the legal industry.

In an internal memo seen by Legal Business, the bank said: ‘Jonathan has played a significant part in many of the high profile legal matters affecting Barclays in recent years, ranging from consumer litigation to regulatory and criminal investigations. In his most recent role he has been engaged in building a financial crime legal team advising on key issues of money laundering, terrorist financing, bribery and corruption and international sanctions.

‘We are grateful for everything Jonathan has done for Barclays and ask that you join in wishing him well in his future career.’

The news follows the exit of Barclays global general counsel (GC) of corporate and investment banking Judith Shepherd who is set to step down in the first half of 2015.