BARCLAYS stoked controversy over executive pay yesterday after announcing shares worth £32 million were handed to a dozen executives.
The shares include £3.8m worth for chief executive Antony Jenkins in relation to deferred awards from bonus and incentive schemes in previous years.
The total figure is down on the £40m shared by nine executives last year, although this included £18m awarded to former investment banking chief Rich Ricci. Barclays came in for criticism last month when it announced a 10 per cent hike in its bonus pool to £2.4 billion, despite a 32 per cent drop in annual profits to £5.2bn.
The share awards included nearly £9m for Skip McGee, who is chief executive for Barclays in the Americas, and £8.6m for the joint head of corporate and investment banking, Eric Bommensath. Unlike the other executives, Jenkins and finance director Tushar Morzaria are not yet entitled to receive role-based shares allowances.