Barclays boss Antony Jenkins gives up '£1m' bonus

Barclays chief executive Antony Jenkins is to waive his bonus for 2012 after a “very difficult” year for the scandal-hit bank (PA)

Barclays chief executive Antony Jenkins is to waive his bonus for 2012 after a “very difficult” year for the scandal-hit bank.

The bank which has been hit by the Libor-rigging scandal and allegations over its 2008 fund raising backed by Middle East sovereign wealth funds said Jenkins had told the board he would not take a bonus.

Only days ago there were reports that Jenkins could recieve a bonus of £1 million on top of his £1 million salary.

Jenkins said: “I am aware of considerable speculation about, and public interest in, the question of whether I will be awarded a bonus in respect of my performance in 2012.

“To avoid further unnecessary public debate on this matter, I wish to make clear that I concluded early this week that I do not wish to be considered for a bonus award for 2012 and I have communicated that decision to the board.

“The year just past was clearly a very difficult one for Barclays and its stakeholders, with multiple issues of our own making besetting the bank. I think it only right that I bear an appropriate degree of accountability for those matters and I have concluded that it would be wrong for me to receive a bonus for 2012 given those circumstances.”

Jenkins’ predecessor Bob Diamond took home £17 million in 2011.