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Sants scoops £3m pay deal at Barclays

Former Financial Services Authority chief executive Hector Sants is to receive a £3 million remuneration package in his new job as Barclays head of compliance, according to the Financial Times.

 
Sants scoops £3m pay deal at Barclays

Former Financial Services Authority (FSA) chief executive Hector Sants is to receive a £3 million remuneration package in his new job as Barclays head of compliance, according to the Financial Times.

The paper cited people familiar with the deal as claiming Sants' basic salary will be £700,000. His annual bonus will be around £1 million depending on performance, and he will receive up to £1.5 million paid over at least three years as part of a performance-based long-term incentive plan (LTIP), the paper said.

The FT said the package would place Sants (pictured) among the 10 best-paid executives at the bank. Barclays would not comment to the paper on the figures but said that executives LTIP had only paid out 37% of the maximum over the past five years.

7 comments so far. Why not have your say?

Powerful Pierre

Dec 19, 2012 at 14:59

Ha! So Santa has come early for Sants!

Looks like Sants has got his "claws" into a very lucrative Christmas package here ...

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Taurus

Dec 19, 2012 at 17:02

Totally preditably rediculous....will it never end?!!! Just to improve the bank's image with the regulator...old boys club, here we go again!!

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RFH

Dec 19, 2012 at 17:09

This is crazy the man was head of the FSA which stood by ineptly while this credit crisis was allowed to happen not to say the LIBOR scandal, he proved to be completely useless at his job or complicit. So why give him another top job in the private sector overseeing the very thing he failed at. Never mine rewarding him handsomely!

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Ian Lewthwaite

Dec 19, 2012 at 18:00

i know that it is nepotism at work, but the pay is £2.9999m too much after his performance at the FSA.

When are these so called management going to be drummed out?

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Jerry Jones

Dec 19, 2012 at 18:25

Who ever would have thought it when we were at school together? Should I send a begging letter, do you suppose?

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IainE

Dec 20, 2012 at 05:05

Here we go again --- the City boys taking care of their own. How on earth do the shareholders put up with it?

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Ian Lewthwaite

Dec 20, 2012 at 08:41

hi Jerry

perhaps you were one of the brighter pupils and worked for what you recieved? Because your school chum Sants, most certainly hasn't

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