Barclays bonus bonanza hands boss an extra £4m 


  • Yacht-loving Jes Staley will get a pay-out to top up his basic salary
  • The 61-year-old is set to get another bonus if he hits various long-term targets
  • This month he also picked up £500,000 of shares in bonus payments from 2017

James Burton City Reporter For The Daily Mail

The chief executive of Barclays will be handed up to £4million of shares over the next seven years as part of a bonus bonanza unveiled by the bank.

Yacht-loving Jes Staley will get a pay-out to top up his basic salary, and another to reward him if he hits long-term targets.

The 61-year-old also picked up £500,000 of shares this month in bonus payments from 2017 and as part of his salary for this year. He will be paid a total of £3.9million for last year’s work.

Under fire: The chief executive of Barclays Jes Staley with his wife Debora

Under fire: The chief executive of Barclays Jes Staley with his wife Debora

Under fire: The chief executive of Barclays Jes Staley with his wife Debora

The bank is bracing itself for the results of an investigation by the City watchdog which could in the worst case see Staley lose his job.

He took charge of Barclays two years ago after Antony Jenkins was sacked for taking too long to turn around the lender.

American banker Staley was previously a senior figure at JP Morgan and thought of as a candidate to succeed Jamie Dimon as boss of the US investment bank. 

But like many once earmarked for the role, he moved on as it became clear Dimon was not budging, Staley first headed for a hedge fund before joining Barclays two years later.

He has since focused on building up Barclays’ investment bank and sold its African operations to focus on the US and UK.

The father of two – a keen sailor who owns a hand-built 90ft yacht, Bequia, named after the Caribbean island where he spent his honeymoon with interior designer wife Debora – has presided over a cull of more than 53,000 staff in a battle to get costs under control.

He has previously stressed his determination to improve diversity at the bank.

Staley owns a hand-built 90ft yacht, Bequia, named after the Caribbean island where he spent his honeymoon with interior designer wife Debora

Staley owns a hand-built 90ft yacht, Bequia, named after the Caribbean island where he spent his honeymoon with interior designer wife Debora

Staley owns a hand-built 90ft yacht, Bequia, named after the Caribbean island where he spent his honeymoon with interior designer wife Debora

The topic is close to his heart because of his brother Peter, a prominent gay rights activist who has spoken about his struggle with HIV and former addiction to crystal meth.

But the battle for equality suffered a setback last month when Barclays revealed its high-earning international division pays women half as much as men on average, as most senior bankers are male. 

He has also been forced to grapple with fraud charges against the bank over a controversial 2008 fundraising in Qatar that kept Barclays in private hands after the financial crisis. The bank denies wrongdoing.

Staley is also awaiting results from a Financial Conduct Authority probe after he wrongly tried to uncover the identity of a whistleblower behind a letter attacking a staff member who had previously worked with Staley at JP Morgan.

The debacle is likely to cost Staley much of his 2016 bonus and could even see the FCA force him to quit.

Barclays yesterday revealed its top nine staff will get up to £14million in shares over the next seven years, and were given £22.2million of stock this month in salary payments and bonus schemes.

Its one female executive committee member, interim compliance head Laura Padovani, got substantially less than her colleagues at £212,000. 

But sources said this is because she has only been in the job since November, not because her contract is less generous than her male colleagues. 

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