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Barclays top execs handed shares worth £39m

by: IFAonline
  • 21/03/2013
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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.

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.

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