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.
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.
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.
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.