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View the article online at http://citywire.co.uk/wealth-manager/article/a647431

Sants to spearhead Barclays pay crackdown

by Daniel Grote on Dec 24, 2012 at 08:08

Sants to spearhead Barclays pay crackdown

Former Financial Services Authority chief executive Hector Sants is to spearhead a crackdown on high pay at Barclays  in his new role as head of compliance at the bank, according to The Sunday Telegraph.

Sants (pictured), whose pay package at the bank is reported to be worth £3 million, will work with chief executive Antony Jenkins on reducing pay and changing how performance is assessed, according to the paper.

The work forms part of Project Transform, a strategic review of the bank which will be revealed alongside its results on February 12.

The paper said future payouts at the bank will depend not just on meeting financial goals but on the ‘social impact’ of work.

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