Barclays Bank issued £22.2m worth of shares to its senior executives yesterday, despite not hitting their profit expectations and posting a loss of £1.9bn in 2017.
The value of the share package inflated significantly as the bank awarded several senior executives who had missed out on payments from JP Morgan Chase when hired by Barclays.
The bank’s chief executive of their corporate and investment arm, Tim Throsby, was awarded £9.2m in shares after joining the group from JP Morgan Chase in 2017, whilst its chief operating officer, Paul Compton, was also awarded £5m in shares following his appointment in May 2016.
Further to this, Barclays handed out £14m worth of deferred shares that are due to vest in the following five to seven years, with some cases conditional on hitting performance targets.
Barclays Bank chief executive Jes Staley benefitted from £3.9m in shares.
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