The Real Deal New York

Ex Barclays boss lists Stanhope pad for $12.5M

Jerry del Missier resigned amid the Libor scandal

January 25, 2013 12:00PM
By Katherine Clarke

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Jerry del Missier and the Stanhope apartment

Jerry del Missier, the former Barclays Bank executive who found himself caught up in the interest-rate rigging scandal that cost the lender £290 million (more than $450 million) last year, may be looking to make a fresh start. Barclays former chief operating officer has listed his Manhattan pied a terre for $12.5 million, according to Streeteasy.com.

Del Missier’s apartment, located in the former Stanhope Hotel at 995 Fifth Avenue, came on the market yesterday. It is listed by Laurie Silverman of Halstead Property. Silverman was not immediately available for comment.

While it was not immediately clear why Del Missier was selling the apartment, the Canadian banker does not appear to be short of cash. He was reportedly awarded a cash payoff worth almost £9 million (more than $14 million) coinciding with his exit from the British multinational banking giant last year.

He departed the bank last July, after he was found by U.S. and U.K. regulators to have instructed traders to fudge the bank’s Libor submissions during the October 2008 banking crisis. The scandal also led to the resignation of CEO Bob Diamond and chairman Marcus Agius. Del Missier claimed he’d misunderstood instructions from Diamond to falsely lower the bank’s borrowing costs in official filings and thought he had been following orders from the Bank of England.

The executive bought the fifth-floor unit at the Extell-developed property for $12.79 million in 2008, public records show. It has four bedrooms and 4.5 bathrooms. The 4,118-square-foot residence has a semi-private elevator landing step, a corner-facing living room with views of the Metropolitan Museum of Art, and a humidity- and temperature-controlled custom designed “wine cave,” according to the listing.

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