Barclays has been accused of trying to bury news that it paid its nine top bankers an "extraordinarily greedy" £39.5m in bonuses by sneaking out the pay details when most of the City was distracted by the budget.
The bank, which promised it was "changing" after being fined £290m last year for its role in the Libor-rigging scandal, gave £17.6m worth of shares to Rich Ricci, the head of its investment banking division. Barclays chief executive Antony Jenkins, who last month called for a new era of restrained bankers' bonuses, was awarded 1.8m shares worth £5.3m.
Ricci's bonus is worth 656 times the average UK salary. Ricci, who owns 11 horses that raced at the Cheltenham Festival last week including one named Fatcatinthehat, immediately cashed in all of the shares. Budget day tax changes including the government's decision to scrap the 50p top rate will result in Ricci taking home an extra £27,149 from his basic salary of £700,000 from next month.
A man set himself on fire in Bulgaria on Wednesday, becoming the sixth person in a month to protest in this way against the poverty.
" There is no bread and I cannot stand it anymore," the man, married with one child , told doctors at his local hospital.
People in the the European Union's poorest member country of 7.3 million earn an average monthly wage of 400 euros ($520) and pensions of less than half that.
The bank, which promised it was "changing" after being fined £290m last year for its role in the Libor-rigging scandal, gave £17.6m worth of shares to Rich Ricci, the head of its investment banking division. Barclays chief executive Antony Jenkins, who last month called for a new era of restrained bankers' bonuses, was awarded 1.8m shares worth £5.3m.
Ricci's bonus is worth 656 times the average UK salary. Ricci, who owns 11 horses that raced at the Cheltenham Festival last week including one named Fatcatinthehat, immediately cashed in all of the shares. Budget day tax changes including the government's decision to scrap the 50p top rate will result in Ricci taking home an extra £27,149 from his basic salary of £700,000 from next month.
A man set himself on fire in Bulgaria on Wednesday, becoming the sixth person in a month to protest in this way against the poverty.
" There is no bread and I cannot stand it anymore," the man, married with one child , told doctors at his local hospital.
People in the the European Union's poorest member country of 7.3 million earn an average monthly wage of 400 euros ($520) and pensions of less than half that.
No comments:
Post a Comment