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Barclays defers bonuses for top investment bankers

February 7, 2013 15:00
LONDON, Feb 7 (Reuters) - About 1,200 top investment bankers at Barclays will not receive any upfront cash as the bank will defer awards over three years, a person familiar with the matter said. Managing directors will get one-third of their 2012 bonus next year, a third in 2015 and a third the year after. Half the payout will be in cash and half will be in shares, the source said. Bankers below managing director level getting a bonus of up to 65,000 pounds ($102,100) will get all of their bonus in cash straight away.

TIMELINE-Barclays' takes new hit on mis-selling

February 5, 2013 11:00
Feb 5 (Reuters) - Here is a look at Barclays bank as the bank announced on Tuesday it had made a 1 billion pounds ($1.57 billion) provision to compensate customers for the mis-selling of payment protection insurance (PPI). 2005 - Barclays traders seek to manipulate the London Interbank Offer Rate (Libor) between 2005 and 2009 while Bob Diamond headed the British bank's investment banking operations, according to documents from British and U.S. regulators. 2011 - Diamond takes over as chief executive on Jan. 1.

Mixed corporate updates see UK FTSE open flat

February 5, 2013 04:30
LONDON, Feb 5 (Reuters) - The UK's top share index open little changed on Tuesday, recovering its poise after steep losses in the previous session, with investor focus switching to mixed corporate updates. By 0802 GMT, the FTSE 100 was up flat at 6,246.82 having suffered its biggest one-day fall in three months on Monday, as growing political uncertainty in continental Europe and a string of analyst downgrades sparked a wave of profit taking from 4-1/2-year highs.

UPDATE 4-Barclays ducks Qatar questions, takes $1.6 bn mis-selling hit

February 5, 2013 04:00
* Makes 1 bln stg provision for PPI, interest rate swaps * Signals rival UK banks need to set aside more cash * Says cannot comment on Qatar fundraising investigation * "We are shredding" some behaviours of the past -CEO By Steve Slater and Matt Scuffham

February 5, 2013 03:45
British bank Barclays takes new £1.0-bn charge against mis-selling products mg-rfj/rl

Barclays increases mis-selling provisions

February 5, 2013 03:30
LONDON, Feb 5 (Reuters) - Britain's Barclays said on Tuesday it had increased the provisions it needed to cover the mis-selling of interest rate hedging products (IRHP) and payment protection insurance (PPI) schemes. Barclays said following a pilot review, it would now include a provision for IRHP of 850 million pounds ($1.3 billion), which is an increase of 400 million pounds. The provision for the PPI scheme will now reach 2.6 billion pounds, which is an increase of 600 million pounds.

UPDATE 2-Barclays finance director Lucas, top counsel to retire

February 3, 2013 15:45
* Barclays CFO Lucas, General Counsel Harding to retire * Will only leave when replacements found, likely to be some time * Lucas under investigation for 2008 Qatar fundraising * Lucas says appropriate time "to pass the mantle on" By Steve Slater and Paul Sandle

UPDATE 1-Barclays finance director Lucas to retire - sources

February 3, 2013 13:11
LONDON, Feb 3 (Reuters) - Barclays Plc's finance director Chris Lucas is to announce on Monday that he plans to retire, people familiar with the matter said, as the British bank struggles to put several scandals behind it. Lucas, in his early fifties, has been finance director for a tough six years that spanned the global financial crisis, but the past nine months have been particularly difficult.

RPT-UPDATE 2-Barclays boss forgoes bonus, Qatar deal probed

February 1, 2013 09:30
* UK probes whether bank lent Qatar money to buy shares- FT * Barclays declines comment on ongoing investigations * Barclays pay under scrutiny after rate rigging scandal By Steve Slater and Matt Scuffham LONDON, Feb 1 (Reuters) - Barclays Chief Executive Antony Jenkins has opted not to take a bonus for 2012, saying he should "bear an appropriate degree of accountability" for the difficult year the British bank endured.

February 1, 2013 08:00
British bank Barclays says chief executive will forego 2012 bonus rfj/wai
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