Barclays, the British multinational bank has announced that the CEO of the bank Antony Jenkins is asked to leave from his post and the control of the CEO is transferred to John McFarlane until a proper match is found from July,17. Barclays is the latest European lender to replace its top executive this year. The Chad Bray said that the departure of the former CEO would not affect the bank at all. Credit Suisse and Standard Chartered both added new chief executives this year as they reshaped their businesses. Antony Jenkins felt obliged after resigning the bank,he muttered.
Why Antony Jenkins Expelled From The Bank
Antony Jenkins was enjoying the services of the bank till 2012, initially he was appointed for the top job and later on got appointed for the CEO of the bank. He worked hard and made his bank to the top. The reason behind his leave, that the bank is facing enormous fines from the recent times due to some mishap done in policies or not following the policies. And this may it turns out to be worse when the fine took a steep curve and it was considered the biggest fine in the history of U.K bank when the Financial Conduct Authority ordered it to pay £284.4m as part of a wider £1.5bn settlement with the City watchdog and four US regulators. This seems to be done by the Jenkins and it wasn’t liked by the owner and he expelled him. The first time Jenkins met criticism, march of the last year where he asked for large bonuses. This would affect the turnover of the bank, said by the owner but he dint care.
Jenkins Salary And Pension: Jenkins waives annual bonus for 2013 as he did in 2012 but stands to receive deferred bonus of 1.9m shares next month. And he is walking from the company with more than £2million.
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