Barclays CEO gets first bonus, overall pot down

Antony Jenkins Barclays

Barclays paid CEO Antony Jenkins his first bonus since taking the job in 2012 as the bank reported an increase in annual profit.

Bloomberg News reports that Jenkins, 53, was awarded a $1.7m bonus for 2014, while his total annual compensation was $8.45m, the bank said in its annual report Tuesday.

Pretax profit for 2014 rose to $8.45bn from $7.53bn a year earlier, the bank said.

'Based on the solid 2014 overall performance, and in particular the considerable progress made against the group strategy, we regard these bonuses as appropriate and deserved', John Sunderland, chairman of the remuneration committee, said in the annual report.

The bank cut variable compensation by 22% to $2.92bn from $3.69bn a year earlier. 

To access the complete Bloomberg News article hit the link below:

Barclays Pays Jenkins First Bonus as CEO, Cuts Variable Pay Pool

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