March 20, 2013

Barclays announces £38.5m bonuses on budget day

Source: The Guardian

Barclays has been accused of trying to "bury bad news" by announcing it has given its top nine bankers bonuses worth £38.5m while the City is distracted by the budget.

The bank, which promised it was "changing" in the wake of the Libor rate-rigging scandal, awarded the head of its investment banking division, Rich Ricci, £17.5m worth of shares. He immediately cashed in all of the shares.

Barclays chief executive Antony Jenkins was awarded 1.8m shares worth £5.3m. He cashed in half of the shares.

Last month Barclays said Jenkins and Ricci would not be collecting a bonus this year after the bank was fined £290m over the Libor rate-rigging scandal.

Read more: http://www.guardian.co.uk/business/2013/mar/20/barclays-bonuses-budget-day

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Continuing their pattern of our austerity and their prosperity.

And with a name right out of Dickens - Rich Ricci.