Peter S Mottek, Former President of Barclays Portugal, Acquitted of Wrongdoing

A recent internal investigation performed by the British-based Barclays financial institution has resulted in the acquittal of bank President Peter S Mottek

Online PR News – 22-May-2014 – Lisbon, Portugal – Former Barclays Portugal President Peter S Mottek, along with fellow bank directors Antonio Nunes da Silva and Ana Paula Alves, have recently been acquitted of any alleged wrongdoing following a 2013 internal investigation into alleged business malpractices. The conclusions of the investigation, which was performed by the institution’s British-based parent company, have yet to be revealed to the public, though Peter S Mottek and his leadership colleagues have recently received full institutional reinstatement.

Peter S Mottek, along with da Silva and Alves, each received their suspension notices in April of 2013. Each were notified of their suspension revocation in two separate letters, both issued by company headquarters in England. The first letter sent to Peter S Mottek, da Silva and Alves informed them of the end of their preventive suspension while relieving them of their previous leadership responsibilities, the result of their positions having already been filled by the company. The second letter recommended the termination of each individual’s employment contract with the company. Barclays is purportedly in negotiations with Peter S Mottek and his two colleagues.

Each manager’s suspension resulted from a Competition Authority (CA) investigation among 15 Banks and their alleged involvement regarding the pricing of Mortgages and Personal Loans. The subsequent determination of the CA led to the opening of a large internal investigation by Barclays, which has yet to reveal the conclusions its investigators have made during the 2013 investigatory process. The suspension, says Barclays Europe and Middle East CEO Curt Hess, was in no way a stamp of guilt for Peter S Mottek and his colleagues, and was a preventive, not disciplinary measure.

A an interim measure, Jaime Echegoyen assumed responsibility of Portugal and Spain, formally, he served Barclays Iberia as co-CEO. Barclays placed Claudio Corradini, former head of retail and small business for Barclays Italy, into the position in January of this year.

As the positions of Peter S Mottek, Ana Paula Alves and Antonio Nunes da Silva are presently occupied by other Barclays’ professionals, neither will resume their previous managerial function. Barclays has fully reinstated the three previously suspended individuals. Barclays Portugal has refused to comment further on this matter.

Peter S Mottek, former President and Director of Barclays Portugal, has been acquitted of any wrongdoing by an internal Barclays investigation.