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Barclays' NED’s splashy landing

In her first act as non-executive director, Dawn Fitzpatrick has bought £1.55m-worth of shares in the bank
November 6, 2019

Companies hire non-executive directors for their experience. In Dawn Fitzpatrick – current chief investment officer of George Soros’s family office, the ex-investment head of UBS Asset Management, and a member of the New York Fed’s investor-led advisory committee on financial markets – Barclays’ (BARC) board could hardly have found a more plugged-in adviser.

IC TIP: Buy at 168p

In theory, non-execs should also provide independent scrutiny. With this responsibility in mind, investor attention is drawn to Ms Fitzpatrick’s first act since her September appointment, which has been to purchase a not-inconsiderable stake in the lender.

On 28 October, across two trades struck at an average price of 170.5p, the director bought £1.55m-worth of stock, surpassing the holdings of all other board members, bar chief executive Jes Staley and finance director Tushar Morzaria – both of whom are partly remunerated in shares.

Buys       
CompanyDirectorDateNo of sharesPrice (p)Value (£)Holding (shares)Holding (%)
Airtel Africa  Douglas Baillie 28 Oct 1920,00061.1512,23020,0000.001
Applied Graphene Materials  Adrian Potts (ceo)30 Oct 1952,420199,96070,5290.143
Applied Graphene Materials  David Blain (cfo)30 Oct 1915,580192,96033,3800.068
Barclays  Dawn Fitzpatrick28 Oct 19435,594170.57742,993909,0000.005
Chaarat Gold    Martin Andersson (ch)29 Oct 19100,00038.138,100146,417,43633.173
CharacterDavid Harris29 Oct 192,0943587,49768,1830.319
CIP Merchant Capital  Carlo Sgarbi 25 Oct 19200,00056112,0002,330,7633.970
Cora Gold  Paul Quirk29 Oct 19142,858710,00011,854,6899.142
Coro Energy  James Menzies (ceo)29 Oct 19399,9992.510,0007,407,8390.938
Dalata Hotel    Elizabeth McMeikan24 Oct 192,100471.479,9012,1000.001
Devro  Jackie Callaway (cfo)25 Oct 1915,000160.824,12035,0000.021
EnQuest  Amjad Bseisu  (ceo)25 Oct 19145,03917.625,527176,310,86010.398
Flowtech Fluidpower  Bill Wilson25 Oct 1910,000113.711,37050,8950.083
Gaming Realms  Michael Buckley (ch)25 Oct 192,000,0005100,00027,000,0009.493
GlaxoSmithKline  Vivienne Cox 30 Oct 1930817255,3134,9390.000
GlaxoSmithKline  Jonathan Symonds (ch)30 Oct 19834172514,3878340.000
GlaxoSmithKline  Vindi Banga30 Oct 1941717257,19359,7490.001
GlaxoSmithKline  Urs Rohner30 Oct 1941717257,19310,1710.000
Grafton♥David Arnold (cfo)30 Oct 192,151785.816,903103,0000.043
M&G  Clive Adamson29 Oct 194,600217.759510,0174,6000.000
M&G  Clare Bousfield (cfo)24 Oct 1914,000224.399831,41614,2330.001
Minds + Machines    Henry Turcan25 Oct 19250,000615,000115,231,65212.539
Newmark Security  Robert Waddington24 Oct 19500,0000.894,4503,300,0000.704
Oxford BioMedica  Lorenzo Tallarigo (ch)28 Oct 194725662,67252,0060.068
Photo-Me International  Serge Crasnianski (ceo)29 Oct 195,000864,30084,815,70122.439
Power Metal Resources  Andrew Bell (ch)30 Oct 19250,0000.4991,12311,270,0003.023
Power Metal Resources  Paul Johnson (ceo)30 Oct 19250,0000.51,25018,600,0004.989
Reckitt Benckiser♥Warren Tucker 25 Oct 195805,81033,6983,6140.001
RHI Magnesita NVStefan Borgas (ceo)30 Oct 192,7003,45293,20413,1250.027
Sanne♥   Rupert Robson (ch)25 Oct 194,60954224,98156,7980.039
ScotGems  Angus Tulloch 29 Oct 19100,00075.575,5001,110,0962.074
Shearwater    Robin Southwell25 Oct 1942,500228.3397,040155,0000.701
Spirent Communications  Paula Bell (cfo)24 Oct 1962201.5125365,3780.060
Trident Resources  Adam Davidson28 Oct 1965,00016.510,72565,0000.295
UK Mortgages  Helen Green 28 Oct 1911,25065.667,38721,2500.008
UK Mortgages  Christopher Waldron (ch)28 Oct 1920,0006613,20060,0000.022
Vast Resources  Andrew Prelea (ceo)29 Oct 194,000,0000.272510,90043,179,4760.423
Velocity Composites  Andrew Beaden (ch)30 Oct 1925,00028.87,200400,0001.114
VPC Specialty Lending Investments  Richard Levy29 Oct 1965,76175.649,7154,121,1281.307
WH Smith  Simon Emeny24 Oct 192,000223844,7602,0000.002
XLMedia  Ory Weihs30 Oct 1950,00052.526,2506,912,4443.694
Sells       
CompanyDirectorDateNo of sharesPrice (p)Value (£)Holding (shares)Holding (%)
Avast  Ulf Claesson 29 Oct 19190,000417.03792,3572,135,1120.217
Bidstack    Francesco Petruzzelli25 Oct 191,500,00020300,0005,750,0002.364
Bidstack    James Draper (ceo)25 Oct 191,500,00020300,00039,760,56216.350
Bioventix  Ian Nicholson (ch)25 Oct 192,5003,158.6778,96715,5000.301
Cora Gold  Geoffrey McNamara (ch)30 Oct 1925,00071,7501,479,2421.141
Tremor International  Yaniv Carmi (cfo)25 Oct 1975,000150112,500402,9050.330
        
*Placing/tender/open offer ♥Spouse/connected party