Mortgage News
Barclays top execs handed shares worth £39m
Barclays shares worth a total of £39m have been awarded to nine executives as part of their long-term remuneration packages.
The BBC reports the investment bank’s boss Rich Ricci was given £17.5m in shares in long-term bonus and has sold them all.
The bank said Ricci’s shares were an accumulation of remuneration over a number of years.
Chief executive Antony Jenkins (pictured) got £5.6m in shares and sold £2.9m of them.
However, he waived his bonus for 2012 after the bank was hit with fines for payment protection insurance (PPI) mis-selling and its part in the LIBOR rigging scandal.
Barclays said the share distribution related to incentive schemes going back several years, with some dating from 2007.
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The bank was fined £290m by UK and US regulators over its LIBOR rigging involvement and has set aside £2bn to cover PPI mis-selling compensation.