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Barclays bank chief to waive bonus
The chief executive of Barclays bank, Antony Jenkins, is to waive his bonus for last year. He said it would be wrong for him to receive a bonus, given what had been a “difficult” year for Barclays. It is thought Jenkins was in line to receive about £1m of a potential maximum entitlement of £2.75m.
Mr Jenkins took over as chief executive last August, just as Barclays was being rocked over mis-selling scandals and other issues. He said in a statement: “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.
George Osborne says bankers need to be “sensible” about their pay. Jenkins’ total potential pay package, including pension, basic salary, and incentives, was £8.6m.
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