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 Trump protests: Psigma's Becket reports from the US

Trump protests: Psigma's Becket reports from the US

Psigma's chief investment officer Tom Becket encounters a little more than he bargained for in a recent trip to the US.

Play Neil Woodford uncut: the full video

Neil Woodford uncut: the full video

We bring you the full video from Woodford's recent visit to Citywire HQ.

Play What the Next Generation is bringing to the wealth world

What the Next Generation is bringing to the wealth world

To mark Citywire's inaugural Next Generation Forum we ask tomorrow's talent what influence they think they can have on the wealth industry.

Read More
Your Business: Cover Star Club

Profile: Brewin's Newcastle boss on the increasingly competitive NE

Profile: Brewin's Newcastle boss on the increasingly competitive NE

William Baker Baker, Brewin Dolphin’s Newcastle office head, is a fixture in the firm, having been with them for 30 years.

Wealth Manager on Twitter
Retirement income challenge: we need round pegs for round holes
  • Old Mutual Wealth hires adviser distribution specialist
  • Vodafone leads FTSE higher on European turnaround
  • Treasury pushes 'City visa' for financial high fliers
  • Ex-Coutts directors join forces at fledgling wealth boutique
  • Cable becomes new Lib Dem leader
  • Charles Stanley strikes pay deal with Manchester team
  • Wealth boutique hires ex-Close specialist investment head
  • Friday Papers: May pledges no Brexit ‘cliff edge’ for business
  • Overnight Markets: Wall Street flat as Home Depot pressures Dow
  • FTSE rallies as dovish Draghi can't stop euro surge
  • Boutique plans to unitise managed portfolio
  • ‘Brain disorder research’ scheme guilty of tax avoidance
  • Neuberger Berman hires China expert
  • FCA tells property funds to up liquidity management
  • Schroders veteran Tosato among trio of Pictet board hires
  • Wealth Manager's 25 most popular fund managers in H1 2
  • FSCS opens compensation door at failed wealth firm
  • S&W revenue jumps as wealth arm gains momentum
  • Walker Crips poaches Tilney London director 1
  • Robo onslaught continues with two new launches 2
  • Read More
    -->