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Portugal: Barclays suspends CEO during antitrust probe

By  |  April 26, 2013

Barclays banking giant, based in the UK, has announced that it will suspend the CEO and three additional executives of its operations in Portugal while the bank is investigated by Portuguese regulators for suspicions of anti-competitive behavior. According to reports, the bank is now under management of its Madrid unit. The Portuguese competition regulator conducted surprise raids of several banks in the nation after Barclays issued a complaint accusing several banks of price-fixing; more than 15 banks were accused of a conspiracy to set mortgage loan and consumer credit prices.

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