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Barclays mulls £1m bonus

Barclays mulls £1m bonus

Barclays is canvassing shareholders ahead of a possible row over a £1m bonus for chief executive Anthony Jenkins.

The payout may be frowned upon because Mr Jenkins's year in charge has seen the bank pay out £2bn to cover PPI mis-selling and fines from the Libor scandal.

The bonus is part of a total pool worth between £1.5bn and £2bn and will be paid in shares.

The move comes as RBS prepares to pay executives in its investment division a round of bonuses, despite the bank paying around £500m for helping to fix the Libor rate.

City broker Tullett Prebon has also attracted controversy by revealing it will delay bonuses for senior executives so they can take advantage of April’s top rate tax cut.

Shadow Treasury minister Chris Leslie said the reports meant there was a "clear case" for the Government to re-introduce the tax on bank bonuses.

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