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Barclays CEO gives up 2012 bonus

Feb 01 2013 16:45

London - The chief executive of Britain's scandal-hit Barclays bank says he's giving up his 2012 bonus amid a string of high-profile scandals over mis-selling products and market-fixing.

Antony Jenkins' was entitled to a maximum bonus of $4.35m, or 250% of his 1.1 million pound salary.

His decision follows a year in which Barclays' reputation has been badly battered.

There was a wave of resignations following revelations that senior executives directed employees to fake a critical rate of interest used to price trillions of dollars in global contracts.

The bank has also been hit by a series of scandals in which the bank was deemed to have improperly sold financial products to consumers.

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