Barclays joins rivals with cut to CEO pension perks
The British lender is consulting shareholders on the proposal to cut in half the pension payments to CEO Jes Staley
28 November 2019 - 22:34
London — Barclays is planning to cut the £396,000 ($508,068) pension allowance it pays CEO Jes Staley by about half, echoing moves by rivals who have pledged to rein in executive pension perks following a campaign by investors.
The British lender is consulting shareholders on the proposal in a review of its remuneration policy to be voted on at the bank’s annual meeting in 2020, a source with knowledge of the matter said...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.