Barclays CEO To Give Up Bonus After Series Of 2012 Scandals

LONDON (AP) ? The chief executive of Britain's scandal-hit Barclays bank says he's giving up his 2012 bonus amid a string of high-profile scandals over mis-selling products and market-fixing.

Antony Jenkins' was entitled to a maximum bonus of 2.75 million pounds ($4.35 million), or 250 percent of his 1.1 million pound salary.

His decision follows a year in which Barclays' reputation has been badly battered.

There was a wave of resignations following revelations that senior executives directed employees to fake a critical rate of interest used to price trillions of dollars in global contracts.

The bank has also been hit by a series of scandals in which the bank was deemed to have improperly sold financial products to consumers.

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Source: http://www.huffingtonpost.com/2013/02/01/barclays-ceo-bonus_n_2597500.html

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