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| Barclays bank chief Antony Jenkins to waive bonus | Barclays bank chief Antony Jenkins to waive bonus |
| (35 minutes later) | |
| The chief executive of Barclays bank, Antony Jenkins, is to waive his bonus for last year | The chief executive of Barclays bank, Antony Jenkins, is to waive his bonus for last year |
| He said it would be wrong for him to receive a bonus, given what had been a "difficult" year for Barclays. | |
| It is thought Mr Jenkins was in line to receive about £1m of a potential maximum entitlement of £2.75m. | It is thought Mr Jenkins was in line to receive about £1m of a potential maximum entitlement of £2.75m. |
| Mr Jenkins took over as chief executive last August, just as Barclays was being rocked over mis-selling scandals and other issues. | Mr Jenkins took over as chief executive last August, just as Barclays was being rocked over mis-selling scandals and other issues. |
| He said in a statement: "To avoid further unnecessary public debate on this matter, I wish to make clear that I concluded early this week that I do not wish to be considered for a bonus award for 2012 and I have communicated that decision to the board. | He said in a statement: "To avoid further unnecessary public debate on this matter, I wish to make clear that I concluded early this week that I do not wish to be considered for a bonus award for 2012 and I have communicated that decision to the board. |
| "The year just past was clearly a very difficult one for Barclays and its stakeholders, with multiple issues of our own making besetting the bank. | "The year just past was clearly a very difficult one for Barclays and its stakeholders, with multiple issues of our own making besetting the bank. |
| "I think it only right that I bear an appropriate degree of accountability for those matters and I have concluded that it would be wrong for me to receive a bonus for 2012 given those circumstances." | "I think it only right that I bear an appropriate degree of accountability for those matters and I have concluded that it would be wrong for me to receive a bonus for 2012 given those circumstances." |
| Mr Jenkins' total potential pay package, including pension, basic salary, and incentives, was £8.6m. | |
| Banks are currently reviewing the size of bonuses for senior staff, and there were reports this week that Royal Bank of Scotland will set aside £250m for payments. Last year, RBS's chief executive, Stephen Hester, waived his bonus. | |
| Sign up, or resign | |
| Barclays hit trouble last June, when it was fined £290m by British and US regulators for attempted manipulation of Libor and Euribor interbank rates between 2005 and 2009. | |
| The scandal sparked the resignations of three Barclays senior board members, including ex-chief executive Bob Diamond. He was replaced by Mr Jenkins, who was formerly head of retail and business banking. | |
| Barclays has also set aside £2bn to compensate customers for the mis-selling of payment protection insurance. | |
| On Friday, Barclays faced new claims that UK financial regulators were investigating the bank over money received from Qatar. | |
| The Financial Times alleged that Barclays lent Qatar money to invest in the bank in 2008. Barclays was not immediately available for comment. | |
| Last month, Mr Jenkins ordered all Barclays staff to sign up to a new ethical code of conduct or quit. |