Not a bad gig.
Barclays said it will pay incoming chief executive James 'Jes' Staley up to $12.6m a year after appointing the former JPMorgan investment bank boss to one of the most prominent posts in British business.
Reuters reports that Staley will join Barclays as CEO at the start of December, having been widely expected to be appointed after sources and other media reports this month said he had been chosen and just needed regulatory approval.
Boston, Massachusetts-born Staley, 58, faces a number of challenges at Barclays, including improving its reputation after a series of scandals, cutting costs to try and improve profitability, and deciding how big an investment bank it should keep in the wake of tougher regulations.
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