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View the article online at http://citywire.co.uk/wealth-manager/article/a655414

Barclays boss Jenkins rejects bonus

by Alex Steger on Feb 01, 2013 at 12:18

Barclays boss Jenkins rejects bonus

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

The decision comes after Barclays was criticised by MPs earlier this week over its bonus culture, especially after it was forced to pay out £290 million in fines for 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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