Barclays boss Antony Jenkins and his top team to receive share awards despite year mired in scandals

By Daily Mail City & Finance

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Share awards: Barclays chief executive Antony Jenkins could benefit from up to three different reward schemes

Share awards: Barclays chief executive Antony Jenkins could benefit from up to three different reward schemes

Barclays chief executive Antony Jenkins and his top team will receive shares worth millions of pounds this week as Britain braces itself for another tough Budget.

While the Chancellor will continue to resuscitate the economy, the bank boss will receive about £4million in awards, despite another year mired in scandal.

Jenkins could benefit from up to three different reward schemes, including shares from previous bonus schemes which have been deferred and shares that are part of his 2014 pay packet.

It is thought that the stock could amount to around 1.5million shares, and 47 per cent of that holding will be sold immediately to cover tax liabilities. An announcement is expected tomorrow.

Last year senior executives shared £40million in shares, which was announced on the same day as the Budget, but this week’s figure is expected to be significantly less after high-profile departures in its investment banking arm.

Jenkins has already agreed to give up his bonus, worth up to £2.7million, in light of the ‘significant costs’ of addressing ‘legacy litigation and conduct issues’.

 

The bank’s £6billion emergency rights issue last year to plug a shortfall in its capital cushion also played a part in his decision. Earlier this year Barclays warned of a £330million charge for legal and regulatory issues in its investment arm.

Scandals: Barclays was fined £290million for rigging Libor interest rates

Scandals: Barclays was fined £290million for rigging Libor interest rates

It marks the second year in a row that Jenkins has given up his bonus since taking the helm in 2012 after Barclays was fined £290million for rigging Libor interest rates.

The bank has also been forced to set aside £3.95bn for payment protection insurance mis-selling and £1.5bn for mis-selling complex interest rate swaps to small businesses.

The comments below have not been moderated.

Imagine how big the bonuses will be if the banks actually made a profit.

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Sack them all especially there abysmal chester call centre. Automate it there hopeless fact. Barclays FIRSTPLUS shocking

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Obviously it's not about quality of service then. What oh what could it be?

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ARE WE SURPRISED BANKERS ARE CLASSIFIED AS THE GREEDIEST PEOPLE!!

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I'm more surprised at the apathy that allows it.

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ahhh well they have to pay for the best people you see....lol...the biggest pigs need more feeding more like

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Businesses whose balance sheet have reduced, invariably, the shareholders have taken the money back. But that has not happened with banks- shareholders have not had any money returned to them but on the contrary the shareholders have been asked to pump more money into the business- to pay bonuses!!!!

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Just think, If they hadn't had to pay £Billions, out in fines for scandals, how high their BONUSES wold have been. After all if we didn't pay these Competitive salaries(Falling about laughing) we would get the BEST PEOPLE.(Now really rolling around with laughter) I would say the Banks that haven't been caught up in Scandals, have the BEST PEOPLE.

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Get Mr Putin in He will sort the greedy pig bankers and the MP's expenses in one go!!! They deserve 5 years hard labour in some Siberian salt mine

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Banking is a strange and odd business. Nearly all banks, if you look at their net balance sheet figures, the figures are less then what they were in 2009. So the banks have not been growing , yet the bonuses paid out have been ridiculous, and shareholders have lost out big time with very reduced dividends and a collapse in the share price..

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QE helps them. And yes, that includes Barclay's.

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And if you took away the QE that balance sheet would be a scrap book.

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Barclays the leader in its field and trusted now a shambles with a management who are not hungry but over fed pigs, at the trough. I say give them small salaries with targets and if they hit them they get their worth if not then go with less like the rest of society.......where are the big shareholders and institutions? Fidelity ?

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They are busy making 'profits'.

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Barclays net balance sheet figure in 2009 was £58478 billion. The net balance sheet figure for 2013 was/is £63949 billion- and that includes £5.8 billion of rights issue which the shareholders forked out. So if you take off the rights issue the net balance sheet figure for 2013 is £58149 billion. So the bank has regressed over the past few years.

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TIM. Why has businessman allowed to show these figures. You won't show mine with regard to Barclays dependency from.....oh I don't know....shall we call it gratuities?

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