Tags: Barclays | Bosses | Bonus | Probe

Barclays Bosses Give Up Bonus in Wake of Interest-Rate Probe

Wednesday, 27 Jun 2012 09:16 AM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
Barclays said its chief executive and three other executives will waive their bonuses this year after the U.K. bank paid 290 million pounds ($452 million) in penalties to settle an international probe into key interbank lending rates.

Barclays said it had reached settlements with Britain's Financial Services Authority, the U.S. Commodity Futures Trading Commission and the Department of Justice over a long-running probe into the setting of so-called Libor rates.

"I am sorry that some people acted in a manner not consistent with our culture and values," CEO Bob Diamond said in a statement, adding that he, Finance Director Chris Lucas, Chief Operating Officer Jerry del Missier and investment banking boss Rich Ricci have agree to forgo any bonus this year.

© 2014 Thomson/Reuters. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web

Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
Privacy: We never share your email.
 

You May Also Like
Around the Web

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved