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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
02/18/201707:29:00Risk Hungry? Meet Barclays's New Investment Bank Boss
02/17/201711:32:53Report of Foreign Issuer (6-k)
02/14/201711:43:23Form 13f Holdings Report (13f-hr)
02/13/201715:28:00Barclays, Teach For America – New York and the NYC Department o...
02/09/201716:06:00Barclays Bank PLC Notice of Redemption
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02/03/201712:16:00RBS Fined $85 Million Over Interest-Rate Benchmark--Update
02/01/201711:06:38Report of Foreign Issuer (6-k)
01/19/201717:31:22Amended Statement of Ownership (sc 13g/a)
01/17/201711:37:00Italy Hires Banks for September 2033 BTP Syndication
01/14/201703:02:00Moody's Settles Ratings Inquiry -- WSJ
01/10/201716:58:22Securities Registration (section 12(b)) (8-a12b)
01/10/201712:53:17Report of Foreign Issuer (6-k)
01/09/201709:46:00EFSF Hires Banks for November 2022 Euro Bond Transaction
01/05/201715:08:16Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
01/04/201719:12:00Ex-Barclays Forex Trader Pleads Guilty In Long-Running U.S. Probe
01/04/201715:21:00Barclays Announces Changes to the Atlantic Trust Select MLP Index
01/04/201712:55:24Free Writing Prospectus - Filing Under Securities Act Rules 163/433...

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