Martin Taylor recruited him to be head of
BZW in 1996.
BZW was running a "stabilisation account" which was supposed to be used only to prop up Pace's share price.
Then he used pounds 300,000 from his
BZW cheque to start the Share Centre.
Manchester-based director of
BZW Corporate Finance, Colin Gillespie, said:
And it has earmarked pounds 100 million in bonuses to keep high-fliers at
BZW sweet while the business is broken up and sold.
Mr Taylor's nadir at Barclays came a year ago when he was forced to announce the bank would sell the equities business of
BZW just months after he had talked of developing the
BZW business into a global player.
Shadow Treasury spokesman Alistair Darling says most people would not have read a page in the sell-off document allowing
BZW to mop up unsold shares.
The troubled firm, whose share price has slumped to lows not seen since the early 1980s, has brought in Mr Bill Harrison - the former
BZW boss - among a trio of new non-executive directors.
During his tenure with
BZW, he advised domestic and international clients on a range of cross-border M&A and corporate-finance transactions.
The annual report will show that 49-year-old Mr Harrison was paid pounds 5million during his 13 months as chief executive of Barclays' investment banking arm,
BZW.
If the Da Tong DeSheng Project is proven economic as a high purity and technology producer, once CGC Board of Directors approval is obtained, CGC and
BZW (the owner) shall negotiate a formal Lease Agreement between the two parties.
However, the City was very interested in Barclays 1997 results and took a poor view of them - depressed by the cost of getting out of
BZW.
