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Barclays suggests reforming how the CEO of Cs Cs Venkatakrishnan pushes him in a move that will reduce his fixed salary but delivery 9 million pounds if the lender reaches profit goals.
The British Bank wrote to investors this week, which clarifies plans to change how it does Vinkatracarnan The group's financial manager, Anna Kroos, according to a person familiar with the matter.
He said that the changes, if approved, will witness the fixed salaries of Venkatakrishnan from 2.95 million pounds to 1.59 million pounds, but the former CEO of JPMorgan will be eligible to obtain bonuses and long -term stock options with eight times his new salary.
They added that Venkatakrishnan, known as Venkat, will get about 9 million pounds then Barclays It achieved its previously announced goal for the tangible shares – a decisive measure of the bank's profitability – by 12 percent by 2026.
The person said that his maximum profits will be directed slightly more than 14 million pounds, but he will only receive this amount if Barclays achieves the tangible property rights of more than 14 percent.
Venkatakrishnan's total bonuses reached 4.64 million pounds for 2023, a decrease from 5.2 million pounds in the previous year.
This step, which was told by Sky News for the first time, comes after Barclays last year The first British lender comes out The Bank of the European Union is the banking reward, after the UK's decision to 2023 to remove the border in the post -Britain exit from the European Union to the city of London.
At that time, Barclays told the employees that he would be appointed Rewards For its largest employees, the so -called physical risks, up to 10 times their fixed salaries, while maintaining Pase on the same thing.
Under the bonus ceiling, which was presented through the European Union in 2014 following the global financial crisis, the rewards were directed with a basic salary.
It was Vinkatrakrichnan a A rare voice supporter One of the Chancellor Rachel Reeves, who thwarted many business leaders by increasing taxes by 40 billion pounds in the October budget and struggled so far to revive the British economy.
Speaking at the World Economic Forum in Davos on Tuesday, Vinkatkakarishnan said there is a lot that should be optimistic in the United Kingdom, including its financial sector. Reeves also attended the forum in an attempt to attract foreign business leaders and investors.
Barclays said that the rewards committee “meets with stakeholders throughout the year to collect notes on our reward policy.”
Whether the committee chooses to suggest any change to our current wage policy or not in 2025, the policy will continue to focus on the reward for sustainable performance, and the close alignment with the interests of the shareholders.
“The committee will publish their views and decisions in the annual report of 2024 on February 13.”
