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Barclays CEO Antony Jenkins turns down 2012 bonus

Barclays Rain 480

Barclays chief executive officer Antony Jenkins has turned down a bonus for his performance at the bank in 2012.

Jenkins took the top job in August after his predecessor Bob Diamond was forced to quit in the wake of the Libor rigging scandal. The bank was fined £290m by global regulators and chairman Marcus Agius also resigned.

Reports earlier this week suggested Jenkins was in line for a £1m bonus and was courting investors’ approval despite the scandal surrounding the bank.

Jenkins said: “I am aware of considerable speculation about, and public interest in, the question of whether I will be awarded a bonus in respect of my performance in 2012.

“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. 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.”

Last month, Jenkins introduced a new code of conduct for Barclays staff and told them to follow it or leave the company.

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  1. Matt Worthington 1st February 2013 at 2:53 pm

    Well kudos to him for turning it down, but why on earth are Barclays still chucking around £1,000,000 bonuses anyway?! It’s obscene money.

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