Barclays boss gives up £1m bonus after ''very difficult' year for the bank

Friday 01 February 2013 12.12
Barclays chief executive Antony Jenkins is to waive his bonus for last year
Barclays chief executive Antony Jenkins is to waive his bonus for last year

Barclays chief executive Antony Jenkins is to waive his bonus for 2012 after a "very difficult" year for the scandal-hit bank.

Mr Jenkins, who took on the role last August, said it was "only right that I bear an appropriate degree of accountability" after devastating reputational blows for the group.

The blows included its £290m settlement for Libor rate rigging.

The move follows reports that Barclays was preparing to pay Mr Jenkins a bonus worth at least £1m for 2012. The maximum bonus he was entitled to was £2.75m - or 250% of his £1.1m salary.