'Millions for man who missed out'.BARCLAYS paid millions of pounds in compensation to its credit card boss for reneging on a promised promotion, it was claimed. Newspaper reports said Barclaycard chief executive Antony Antony or Marc Antony, Lat. Marcus Antonius, c.83 B.C.–30 B.C., Roman politican and soldier. He was of a distinguished family; his mother was a relative of Julius Caesar. Jenkins received "several million pounds" for a promotion to the bank's executive committee that never came. The group, which hired Mr Jenkins from Citigroup Citigroup U.S. holding company formed in 1998 from the merger of Citicorp (itself a holding company incorporated in 1967) and Travelers Group, Inc. The $70 billion merger included one of the largest U.S. investment banks, Salomon Smith Barney Inc. in 2006, is now said to be planning a management shake-up at its retail and commercial arm that could mean the departure of divisional head Frits Seegers. Barclays is understood to have agreed the payout pay·out n. 1. The act or an instance of paying out. 2. A percentage of corporate earnings that is paid as dividends to shareholders. for Mr Jenkins after it decided there was no room for him on the executive committee following an earlier overhaul. Mr Seegers instead secured a place on the board of senior directors after he was hired - again from Citigroup. Barclays made no immediate comment on the claims. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion