Barclays boss Jenkins turns down bonus

Barclays chief executive Antony Jenkins has rejected a bonus for 2012.

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by Alex Steger on Feb 01, 2013 at 11:47

Barclays chief executive Antony Jenkins has rejected a bonus for 2012.

Earlier this week Barclays was criticised by MPs over its bonus culture.

Previous chief executive Bob Diamond received £2.7 million for 2011.

Last year Barclays paid out £290 million in fines over its role in the Libor fixing scandal.

According to the Financial Times Jenkins’ contract suggested he could have been in line for a £2 million bonus.

Jenkins (pictured) said he had been moved to issue a statement following mounting public speculation.

‘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,’ he said.

‘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.’

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2 comments so far. Why not have your say?

To those who might jump in and say he is only doing it to avoid public criticism I wouild say two things.

1 He always was an honourable man, and perhaps that is why he was chosen

2 If and when he steers Barclays back to an even keel to the satisfaction of customers, shareholders and the public at large then he truly will deserve a substantial bonus.

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rik

Feb 01, 2013 at 18:13

Can I have it please?

(Even a bit would do!)

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