£17m bonus bonanza for top Barclays bosses despite string of scandals

This is Money
February 18, 2013

Five top bosses at Barclays will share a jackpot worth up to £17million despite being tainted by a string of scandals.

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Finance chief Chris Lucas, under investigation over Barclays’ 2008 emergency fund-raisings in the Middle East, could receive up to £5m. This includes a tranche of his 2011 bonus which pays out this May.

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Luke Hildyard, of campaign group the High Pay Centre, said: ‘Multi-million pound payments to bankers are unjustifiable and unnecessary at the best of times, but in the aftermath of the Libor scandal they look wildly misjudged.

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Jenkins has pledged to deploy special ‘clawback’ powers to recoup deferred bonuses after a spate of scandals, including Libor-rigging and the mis-selling of payment protection insurance. It is not clear if 2010 awards will be affected.

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This article was posted: Tuesday, February 19, 2013 at 12:10 pm

Tags: economics, financial, foreign affairs, government corruption

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