Barclays chief to waive bonus
February 2 , 2013
The chief executive of Barclays bank said on Friday he would waive his bonus for last year.
Antony Jenkins said in a statement: "To avoid further unnecessary public debate on this matter, I wish to make clear that I concluded early this week that I do not wish to be considered for a bonus award for 2012 and I have communicated that decision to the board.
"The year just past was clearly a very difficult one for Barclays and its stakeholders, with multiple issues of our own making besetting the bank…I think it only right that I bear an appropriate degree of accountability for those matters and I have concluded that it would be wrong for me to receive a bonus for 2012 given those circumstances.”
Jenkins took over as chief executive at Barclays last August, just as the British bank was hit by mis-selling scandals.
It is believed Jenkins was set to receive close to $1.6 million of a potential maximum entitlement of $4.3 million.
His total potential pay package, including pension, basic salary, and incentives, stood at $13.5 million.
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