UK bank Barclays has agreed a resignation package with outgoing chief executive Bob Diamond where he will continue to receive his salary, pension allowance and other benefits for up to 12 months but will forfeit a number of bonus awards and incentives, the bank said Tuesday.
(LONDON) — UK bank Barclays has agreed a resignation package with ex-chief executive Bob Diamond where he will forfeit up to 20 million pounds ($31 million) in bonuses and incentives but receive a year’s salary, pension and other benefits worth 2 million pounds. Diamond resigned last week after Barclays was fined $453 million by U.S.
NO BONUS: U.K. bank Barclays has agreed a resignation package with ex-CEO Bob Diamond that calls for him to forfeit up to 20 million pounds ($31 million) in bonuses and incentives, but receive a year's salary, pension and other benefits worth 2 million pounds ($3.1 million).
LONDON — Bank of Canada Governor Mark Carney will get a 250,000 pound ($402,000) annual housing allowance when he starts as governor of the Bank of England next year, on top of a salary of 624,000 pounds ($1-million), the BoE said on Wednesday.
The payments to the former Goldman Sachs investment banker will be well above what current BoE governor Mervyn King receives – a salary of 305,000 pounds and a generous pension.
The sum, which needs final approval, is far lower than the $14bn the US had asked the bank to pay in September, the BBC reports.
That looming fine had caused concerns that a failure of the bank could pose a risk to the global financial system.
Credit Suisse also announced a similar deal, while Barclays is now under investigation too.
The sale of residential mortgage-backed securities played a significant role in the 2008 financial crisis.