Data provided by McGregor BFA
All data is delayed
Loading...
See More

Another Barclays director quits

Jul 25 2012 15:21 AFP

Related Articles

Beware foreign suitors

Barclays played by its own rules

UK rate scandal: 'SA banks sound'

Rates scandal may cost banks $22bn

Absa rivals to escape its debt woes

'Probe into Absa takeover needed'

 

London - Scandal-hit British bank Barclays on Wednesday said the head of its remuneration committee, Alison Carnwath, had resigned from the board with immediate effect for personal reasons.

"With regret I have concluded that I am no longer able to devote sufficient time to my role as a director of Barclays given my other commitments," Carnwath said in a statement issued by the company.

In April, more than a fifth of Barclays shareholders voted against Carnwath's re-election as chair of the remuneration committee amid mounting anger over former chief executive Bob Diamond's vast pay package.

Diamond resigned earlier this month after the London-listed bank was fined £290m ($451m) for the attempted manipulation the Libor and Euribor inter-bank interest rates between 2005 and 2009.

US-born Diamond, who had become a symbol of excessive pay in Britain, also gave up bonuses worth £20m following his resignation, although he will still receive a final pay-off of around £2m.

The rate-rigging scandal prompted the resignations of Barclays chairperson Marcus Agius and chief operating officer Jerry del Missier and sparked a fierce political debate over ethics in banking.

* Follow Fin24 on Facebook, Twitter and Google+.


absa  |  barclays  |  interest rates  |  banks
NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
4 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're Talking About: Small Business

Standard Bank is looking for 12 entrepreneurs to participate in a 10-part TV series. They could win a R1m investment into their dream.
 
 

Zuma: Pray for peaceful polls

President Jacob Zuma has asked members of the Universal Church of the Kingdom of God to pray for peaceful elections on 7 May.

 
 

Latest elections multimedia

Why Jack Parow wants you to vote on 7 May
The ad the SABC doesn't want to air
Elections 2014 in one cartoon
This year's election posters

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...