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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
04/17/201413:39:19EUROPE MARKETS: European Stocks Turn Higher, But Rémy, Diageo...
04/17/201413:17:09LONDON MARKETS: U.K. Stocks Rise To One-week High; Barclays Jumps
04/17/201411:00:21LONDON MARKETS: U.K. Stocks Flirt With One-week High; Barclays...
04/17/201410:01:58EUROPE MARKETS: European Stocks Turn Higher, But Remy, Diageo...
04/17/201409:27:18Changes Afoot As Barclays Seeks to Be Leaner And More Focused...
04/16/201418:18:31ADR Shares End Higher; Credit Suisse, ASML Shares Active
04/16/201414:01:34Barclays Settles Dispute With Money Transfer Firm Dahabshiil
04/16/201414:01:34Barclays Settles Dispute With Money Transfer Company Dahabshiil
04/15/201417:30:35Building Products Maker Associated Materials Withdraws IPO
04/15/201417:02:39ADR Shares End Lower; Infosys, Diageo Shares Active
04/15/201405:07:50Barclays Names Crawford Gillies Member of Remuneration Committee
04/14/201418:25:03Paycom Software IPO Priced Below Expectations
04/14/201416:18:21Barclays to Name Gillies to Pay Committee -Sky News
04/14/201411:00:08LONDON MARKETS: FTSE 100 Slips, But Glencore Xstrata Gains
04/14/201406:04:56LONDON MARKETS: FTSE 100 Slides On Ukraine Tensions; Glencore...
04/10/201412:23:59LONDON MARKETS: FTSE 100 Ekes Out Gain After BOE Stands Pat On...
04/08/201411:20:10Barclays's Knapp to Lead New Research Team at BlackRock
04/08/201411:00:09Spain 'Bad Bank' Set to Change How it Sells Property
04/08/201410:53:08Barclays's Knapp Leaves to Lead New Research Team at BlackRock
04/08/201406:40:07Bob Diamond Poaches Barclays Executive for Africa

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