Barclays Investors Warn Bank on Executive Pay Increases, FT Says
Barclays Plc (BARC) shareholders have told the bank they won’t accept large pay increases for its chief executive officer or senior bankers, the Financial Times reported today, citing unidentified investors.
U.K. investors including Legal & General Group Plc and F&C Asset Management Plc have been petitioning for banks to award “moderate” pay increases as share prices fall, the newspaper reported.
Jerry Del Missier and Rich Ricci, who run the investment banking unit at London-based Barclays, and Chief Executive Officer Bob Diamond together received more than 100 million pounds ($157 million) last year in compensation, according to the FT.
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