Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

Barclays seeks shareholder support for Jenkins' bonus

Barclays seeks shareholder support for Jenkins' bonus

Barclays is understood to be meeting key shareholders as it seeks to drum up support for a seven-figure bonus for chief exec Antony Jenkins, Sky News has reported.

That will come out of a total bonus pool believed to stand at between £1 billion and £2 billion, down from last year's £2.2 billion.

Jenkins package is though to be entirely deferred and paid in equity. While shareholders were said to be 'cautiously optimistic' that Barclays was responding to public anger over pay levels, it is unlikely to avoid a political storm.

The public perception of the banking industry has slumped again to a fresh low, after Barclays took the lead in settling regulatory claims liable over its manipulation of Libor.

'The numbers will be contentious but they are undoubtedly heading in the right direction. There has been a clear signal that this is not the end-point [for cuts in bonuses],' one source told Sky.

 

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play HSBC's Stephen King warns of 'enormous' Brexit deficit danger

HSBC's Stephen King warns of 'enormous' Brexit deficit danger

Brexit will weaken the economy, fail to boost exports and lessen the country's ability to fund its 'enormous' deficit, according to HSBC's senior economic adviser Stephen King.

Play Premier's Smith: electricity and water can be a good mix

Premier's Smith: electricity and water can be a good mix

Exposing your person to electricity and water simultaneously is ill-advised, but what about your portfolio?

Play Citywire 10k: video highlights

Citywire 10k: video highlights

Citywire held its sixth annual charity run last week, which hosted over 200 people and raised £14,000. Here are the video highlights.

Your Business: Cover Star Club

Profile: how to control your destiny in an age of regulation

Profile: how to control your destiny in an age of regulation

‘RDR was good news to us because it aligned our practices with the industry,’ says Courtiers boss Jamie Shepperd

Wealth Manager on Twitter