Barclays boss forgoes bonus, Qatar deal probed

Fri Feb 1, 2013 1:16pm EST
 
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By Steve Slater and Matt Scuffham

LONDON (Reuters) - Barclays BARC.L Chief Executive Antony Jenkins has opted not to take a bonus for 2012, saying he should "bear an appropriate degree of accountability" for the difficult year the British bank endured.

Jenkins is trying to restore Barclays' reputation since the revelation of its role in a global interest rate rigging scandal led to a $450 million fine and the departure of his predecessor Bob Diamond.

Those efforts are unlikely to be a straight road.

The Financial Times reported on Friday that British authorities are looking into an allegation that Barclays lent Qatar money to invest in it as part of a rescue fundraising at the height of the 2008 financial crisis.

UK rules forbid a public company from giving financial assistance in order to acquire its shares or those of a parent company.

A Barclays spokeswoman said: "Both the FSA and SFO investigations are ongoing and, as such, we are unable to comment further".

The FSA, SFO and Qatar Holding declined to comment.

Jenkins, who became CEO in August, said he did not want to be considered for a bonus after a difficult year for the bank and its stakeholders.   Continued...

 
Barclays PLC Chief Executive Antony Jenkins speaks during the first day of the Clinton Global Initiative 2012 (CGI) in New York, September 23, 2012. REUTERS/Lucas Jackson