Barclays chief rules out £1m bonus as ‘wrong’ after Libor scandal

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Barclays chief executive Antony Jenkins is to waive his bonus for 2012 after a “very difficult” year for the scandal-hit bank.

Mr Jenkins, who took on his role in August, said it was “only right that I bear an appropriate degree of accountability” following a year of devastating blows to the group’s reputation, including a £290m settlement for Libor rate rigging.

Reports had said Barclays was preparing to pay Mr Jenkins a bonus worth at least £1m. The maximum he was entitled to was £2.75 m – 250 per cent of his £1.1m salary.

 

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