Barclays may have shelled out
£3.7 billion ($US5.5 billion) in currency market manipulation litigation costs in 2014 as well as costs associated with dealing with a number of retail investor mis-selling scandals and writedowns from property loan portfolios but that didn’t stop it rewarding its executives with millions of pounds in share awards.
According to a regulatory filing, Barclays’ CEO Antony Jenkins, as well as the head of the investment bank Tom King, group finance director Tushar Morzaria, and 8 other executives received £16.5 million in share awards.
The Barclays stock was priced at £2.535 per share and the place of trading was the London Stock Exchange.
King received the biggest payout in shares with stock worth £4.7 million while the bank’s CEO Jenkins got £4.3 million in share awards.
While the executives received half the amount of share awards, when compared to 2014’s £32 million total, the amount is bound to irk the the leading pension body Local Authority Pension Fund Forum (LAPFF).
LAPFF called for Sir John Sunderland, the chair of Barclays’ pay review committee, to resign for
Barclays confirmed in its 2014 results statement that it its pretax profit tanked by 21% to £2.26bn.
Overall, for Barclays staff, the 2014 bonus pot for the bank fell by £520 million to £1.86bn.