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Barclays To Block Bankers' Bonuses Until Retirement - Report

LONDON--Barclays PLC (BCS) is working on a radical new pay scheme that could see bonuses for top executives cut and not paid out until they retire, the Sunday Times reports without citing sources. Under the new scheme, long-term bonus plans that have previously paid out sums running to tens of millions of pounds will be overhauled. Any big payouts would be held in shares and deferred until the executive retires or leaves the bank, the paper reports. A representative for Barclays declined to comment. Barclays' reputation has been severely tarnished in recent months by a flurry of financial scandals, most recently an investigation by the Financial Services Authority regarding the giant British bank's disclosure of fees and business arrangements with Qatari investors among others. Qatar's sovereign wealth fund was among the investors that pumped a total of 7.3 billion pounds into Barclays during the first phase of the financial crisis. That probe follows the resignation of three top executives last month including Chief Executive Bob Diamond after the bank acknowledged attempts to manipulate the London interbank offered rate, or Libor. And, just 10 days ago Alison Carnwath, the head of Barclays remuneration committee, quit the bank's board with immediate effect for personal reasons, after a tumultuous two years at the company. Ms. Carnwath had acted as a lightening rod for shareholder anger over the group's decision to pay out large bonuses to top executives. Newspaper Web site: http://www.timesonline.co.uk -London Bureau, Dow Jones Newswires; +44 (0)20 7842 9320

Stock News for Barclays (BCS)
DateTimeHeadline
05/05/201617:57:32Free Writing Prospectus - Filing Under Securities Act Rules 163/433...
05/05/201611:38:55Free Writing Prospectus - Filing Under Securities Act Rules 163/433...
05/05/201609:23:36Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
05/05/201608:46:13Report of Foreign Issuer (6-k)
05/05/201608:24:26Report of Foreign Issuer (6-k)
05/05/201604:10:00Barclays Sells Stake in African Unit
05/05/201603:32:00Barclays Sells Stake in African Unit -- Update
05/05/201602:52:00Barclays Raises GBP603 Million From Placing
05/04/201619:04:00ADRs End Mostly Lower; Royal Dutch Shell Declines
05/04/201614:09:00Barclays to Sell Stake in Barclays Africa Group -- 2nd Update
05/04/201612:54:00Barclays to Sell Stake in Barclays Africa Group -- Update
05/04/201612:20:00Barclays to Sell Stake in Barclays Africa Group
05/04/201611:55:00Barclays to Sell 12.2% Stake In African Business
05/04/201606:25:00U.K. Banks Prepare for 'Brexit' Ahead of EU Poll
05/03/201620:49:00Seven Banks Agree to Settle ISDAfix Suit -Reuters
05/03/201610:26:37Report of Foreign Issuer (6-k)
05/02/201608:20:00Global Oil Prices Down on Bearish OPEC Data
04/29/201618:16:00Barclays Bank PLC Extends Consent Solicitation Period for Select...
04/28/201617:50:00Lehman Trustee Seeks Another Payout
04/28/201611:59:00Barclays to Sell Assets in Spain, Portugal -- Update

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