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News Summary: Scandal-hit Barclays nixes CEO bonus

Source : AP
Last Updated: Fri, Feb 01, 2013 19:00 hrs

: The chief executive of Britain's Barclays bank is giving up his 2012 bonus amid a string of scandals over market-fixing and other financial malfeasance.

BIG BUCKS: 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. Senior bank officials were canvassing investors about the possibility of awarding him a seven-figure sum.

BONUS FURY: Bonuses have been a hot button in Britain and elsewhere ever since the financial crisis, when executives got huge payouts while taxpayers were left footing multibillion dollar bills as their banks teetered.




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