Credit card CEO got 'millions' from bank; Pay-out for missed promotion.Byline: HOLLY WILLIAMS Holly Williams (born March 12, 1981) is an American singer/songwriter. BiographyRaised in Nashville, Tennessee, considered the home of country music, she is the granddaughter of Hank Williams, the daughter of Hank Williams, Jr., and the half-sister of Hank Williams III. BARCLAYS paid millions of pounds in compensation to its credit card boss for reneging on a promised promotion as rumours mount over tensions at the bank's helm, it was reported yesterday. Barclaycard chief executive Antony Jenkins received "several million pounds" for a promotion to the bank's executive committee that never came, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. a press report. The group, which hired Mr Jenkins from Citigroup in 2006, is now said to be planning a management reshuffle re·shuf·fle tr.v. re·shuf·fled, re·shuf·fling, re·shuf·fles 1. To shuffle again: reshuffle cards. 2. for the retail and commercial banking arm that could lead to the departure of divisional head Frits Seegers. Barclaycard employs hundreds of people in Liverpool's Wavertree Technology Park. News of the reported pay-out to Mr Jenkins is also likely to further stoke controversy over a return to excessive pay in the City as banks begin to hand out mega-bonuseonce more. Barclays is understood to have agreed the pay-out 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 - to lead a beefed-up retail and commercial banking operation. Barclays had no one immediately available for comment yesterday, but is believed to be planning another restructure that could see Mr Jenkins land an expanded senior r ole. Deanna Oppenheimer, who heads up the retail banking business in the UK, is also thought to be in line for a possible wider remit under the mooted restructure. The group revealed in its interim results that more than half the profits for the global retail and commercial banking arm came from the UKretail division and Barclaycard, which delivered pounds 268m and pounds 391m r espectively. Mr Jenkins is also seen as a rising star at the bank and yesterday's report suggested he could take a wider role overseas as part of a divisional shake-up. Barclays is joining rivals in the rush to secure talent as the banking sector emerges from the credit crisis and was reported at the weekend to be forking out up to pounds 31m to poach poach damage caused to sodden pasture by the hooves of cattle and sheep. In clay soils and when the ground is sufficiently wet the damage caused by a heavy stocking rate of sheep may be very high. Said also of the take-off in front of a jump in an equitation course or a race. a team of five traders from JP Morgan. Banks have been coming under heavy fire in recent weeks as it emerged they have been paying out huge sums in "golden hellos" once more, with concerns the sector is ignoring pay reforms. Chancellor Alistair Darling signalled he is ready to legislate To enact laws or pass resolutions by the lawmaking process, in contrast to law that is derived from principles espoused by courts in decisions. to curb big bonuses. CAPTION(S): Antony Jenkins - reportedly received millions in compensation |
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