Daily Mirror (Northern Ireland)
Fatcats’ £36m... for losing £2bn Barclays bosses rake in bumper windfalls
NINE Barclays bankers have been handed a £36million bonanza.
They include chief executive Jes Staley, who got nearly £300,000 worth of shares for just three months’ work.
The fatcats’ windfall was announced weeks after Barclays reported a near £2billion full year loss.
That didn’t stop it setting aside £14m worth of bonuses in shares for the bigwigs for last year. All but American banker Staley shared a further £18m, made up of older reward schemes and bonuses others forfeited after being poached from rivals. The nine also shared £1.7m for another annual scheme, and £2m in shares for the first three months of this year.
Staley, currently being investigated by City watchdogs for a whistleblowing scandal, could alone get £4m of the £14m pot.
The final value will depend on how Barclays performs between now and 2020. Finance chief Tushar Morzaria was granted £2.6m from it.
The eight who get £18m had to sell half their shares to meet a tax due on the windfalls.
But were still left with a handy £9.3m between them.
The biggest chunk of that went to Tim Throsby, Barclays’ head of corporate and investment banking, mostly to cover bonuses he gave up when he left JP Morgan Chase.
Stefan Stern, director of the High Pay Centre, said: “They may have hit their targets but average Barclays’ customers have seen branches close and business customers have had a mixed experience.”