Tweet
With Barclays poised to take over Dutch banking group ABN AMRO, it's not clear how the horrors of last night's Whistleblower will affect the deal. Though it would be fair to say that the unsuspecting Dutch public would be - at least until last night - unaware of the brutal banking tactics that may well be foisted upon them if Barclays moves in.
It's even less clear how the board and major shareholders of ABN have or would react to the programme. They may not even have seen it. But just in case they haven’t, there's 3 copies already winging their way to Amsterdam along with the enclosed letter written on Barclays headed paper that I came across in my branch and that I've been saving for a rainy day.
To: Chief Executive
ABN AMRO Bank N.V.
Head Office
Gustav Mahlerlaan 10
1082 PP
Amsterdam
Netherlands
From: John Varley
Group Chief Executive
Barclays Bank PLC
1 Churchill Place
London
E14 5HP
22/03/2007
Dear Sir
I am writing regarding the BBC television programme 'Whistleblower' broadcast yesterday in the UK. (enclosed).
I wish to reassure you that the programme was in no way representative of the way the vast majority of people do business at Barclays PLC. If I am honest the few bad apples in question were indeed despicable, callous and frankly, contemptible. We have already taken swift and firm action to deal with these individuals. Indeed every one of the customers we have identified on the show have had their accounts closed, charged a hefty fee for the privilege and been banned from all our branches nationwide. Well, until we can flog them a new 'Additions' account anyway.
And as for that old git who turned down the contents insurance, what do these people think we are? A bank? We've already billed him £2000 for the consultation and the bailiffs are in there on Friday.
Also, the few bank charge complainants were in no way typical of the 99 per cent of our account holders who are genuinely stupid, ignorant and trusting enough for us rifle their accounts at will without having the sense to notice.
Yours in banking
John Varley
It's even less clear how the board and major shareholders of ABN have or would react to the programme. They may not even have seen it. But just in case they haven’t, there's 3 copies already winging their way to Amsterdam along with the enclosed letter written on Barclays headed paper that I came across in my branch and that I've been saving for a rainy day.
To: Chief Executive
ABN AMRO Bank N.V.
Head Office
Gustav Mahlerlaan 10
1082 PP
Amsterdam
Netherlands
From: John Varley
Group Chief Executive
Barclays Bank PLC
1 Churchill Place
London
E14 5HP
22/03/2007
Dear Sir
I am writing regarding the BBC television programme 'Whistleblower' broadcast yesterday in the UK. (enclosed).
I wish to reassure you that the programme was in no way representative of the way the vast majority of people do business at Barclays PLC. If I am honest the few bad apples in question were indeed despicable, callous and frankly, contemptible. We have already taken swift and firm action to deal with these individuals. Indeed every one of the customers we have identified on the show have had their accounts closed, charged a hefty fee for the privilege and been banned from all our branches nationwide. Well, until we can flog them a new 'Additions' account anyway.
And as for that old git who turned down the contents insurance, what do these people think we are? A bank? We've already billed him £2000 for the consultation and the bailiffs are in there on Friday.
Also, the few bank charge complainants were in no way typical of the 99 per cent of our account holders who are genuinely stupid, ignorant and trusting enough for us rifle their accounts at will without having the sense to notice.
Yours in banking
John Varley
