Mar 12, 2018

Barclays pays top managers over £20m in shares

Barclays has paid its top managers just over £20m in shares from deferred bonus schemes and in new stock awards, mostly to compensate several senior executives for payouts they forfeited after leaving JPMorgan Chase. The biggest award was £9.2m of shares for Tim Thorsby, head of the corporate and investment banking division at Barclays. Barclays also awarded shares worth almost £5m to Paul Compton, who it hired as chief operating officer in 2016. Almost all of the £2m of shares awarded to CS Venkatakrishnan, chief risk officer, and a small part of the £1.6m of shares awarded to Tushar Morzaria, finance director, were to buy out their forfeited bonuses from JPMorgan. Barclays also granted £14m of deferred shares to its top executives that will vest over the next five to seven years and some of which are conditional on hitting certain performance targets.

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