Sheikh who rode to rescue of Barclays sells out

The Abu Dhabi Sheikh who became the second largest shareholder in Barclays at the height of the credit crisis has sold his entire stake, making a huge profit.

Sheikh Mansour bin Zayed Al Nahyan, who owned more than 5% of the bank, no longer owns any shares in the company, having liquidated his stake at the end of June. A regulatory filing shows his PCP Gulf Invest 3 Ltd holding company sold its 758.4 million Barclays shares on June 20, a day which saw the stock tumble 4.4%. Sheikh Mansour bin Zayed Al Nahyan has held the position in the UK's second-biggest lender since October 2008, when Barclays raised £5.3bn from foreign investors to help prop up its balance sheet and avoid government intervention during the credit crisis. The Sheikh's...