CEO of scandal-hit Barclays gives up 2012 bonus
A view of Barclay's headquarters at London's Canary Wharf financial district, on Thursday, June 28, 2012. (AP Photo/Lefteris Pitarakis)
The Associated Press
Published Friday, February 1, 2013 8:47AM EST
LONDON -- The chief executive of Britain's scandal-hit Barclays bank says he's giving up his 2012 bonus amid a string of high-profile scandals over mis-selling products and market-fixing.
Antony Jenkins' was entitled to a maximum bonus of 2.75 million pounds (US$4.35 million), or 250 percent of his 1.1 million pound salary.
His decision follows a year in which Barclays' reputation has been badly battered.
There was a wave of resignations following revelations that senior executives directed employees to fake a critical rate of interest used to price trillions of dollars in global contracts.
The bank has also been hit by a series of scandals in which the bank was deemed to have improperly sold financial products to consumers.