LONDON, March 9 Barclays awarded its
chief operating officer Paul Compton shares worth 7.5 million
pounds ($9.11 million), more than the bank's chief executive was
paid in 2016, according to regulatory filings on Thursday.
The amount was almost as much as the total 8.7 million
pounds awarded to its senior managers a year ago, and reflected
a rise in Barclays' share price and the large buyout fee it paid
Compton for shares forfeited from his previous employment.
Chief Executive Jes Staley received no new shares from
awards granted in prior years, the bank said, but was awarded
shares worth 198, 000 pounds in up front bonus for the year and
Staley's total compensation for 2016 was 4.2 million pounds,
the bank previously disclosed in its annual report.
This year the total value of shares awarded to the
executives is 13.6 million pounds, Barclays said.
Barclays shares have risen 43 percent in the year since its
last annual payout to top executives, despite suffering a record
single-day slump of 30 percent the day after Britain voted to
leave the European Union.
The shares are now worth 233 pence each compared with 163
pence a year ago.
A spokesman for Barclays said the actual amount Compton
receives will be substantially lower due to taxes on the bonus,
and that he will not receive some 2 million pounds worth of the
award for 5 years due to bonus deferral rules.
Compton has been tapped to run the new back office service
company that Barclays is creating, Reuters reported last month
Chief Executive Jes Staley confirmed the appointment when
asked by Reuters at a media conference on Feb. 23.
Most European investment bankers received smaller bonuses in
2016 as their employers cut costs and sought to meet shareholder
demands for a greater share of profits.
($1 = 0.8232 pounds)
(Reporting By Lawrence White, Editing by Anjuli Davies)