Tags: Barclays | Bosses | Bonus | Probe

Barclays Bosses Give Up Bonus in Wake of Interest-Rate Probe

Wednesday, 27 Jun 2012 09:16 AM

 


Barclays said its chief executive and three other executives will waive their bonuses this year after the U.K. bank paid 290 million pounds ($452 million) in penalties to settle an international probe into key interbank lending rates.

Barclays said it had reached settlements with Britain's Financial Services Authority, the U.S. Commodity Futures Trading Commission and the Department of Justice over a long-running probe into the setting of so-called Libor rates.

"I am sorry that some people acted in a manner not consistent with our culture and values," CEO Bob Diamond said in a statement, adding that he, Finance Director Chris Lucas, Chief Operating Officer Jerry del Missier and investment banking boss Rich Ricci have agree to forgo any bonus this year.


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