12 Barclays execs receive $53m in bonuses

Barclays Canary Wharf

Barclays paid 12 senior executives about $53m in bonuses as it prepares to eliminate jobs this year.

Bloomberg reports that Hugh 'Skip' McGee, 54, who became Barclays’s chief executive officer for the Americas in May, was the highest-paid with $14.73m, Barclays said in a statement Tuesday. CEO Antony Jenkins was given shares valued at $6.34m.

Barclays last month drew criticism for boosting its 2013 total bonus pool as investment-banking profit shrank, and plans to cut as many as 12,000 jobs this year to eliminate costs after profit declined. Adjusted pretax profit fell to $317.2m in the fourth quarter from $2.32bn a year earlier, Barclays said in February.

Barclays is also among currency-trading firms that have suspended traders amid a probe into alleged rigging of the foreign-exchange market.

To access the complete Bloomberg article hit the link below:

Barclays Awards 12 Senior Executives $53 Million in Bonuses 

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