Cost of buying out bonuses from preceding employer JP Morgan increases to more than £2m owing to rise in share price of US bank since announcing appointmentBarclays faces a higher than expected bill to recruit Jes Staley,who began his job as the banks chief executive on Tuesday.
Staley, who told staff he was joining with “excitement and optimism for the future”, or is being bought out of bonuses from one of his preceding employers,US bank JP Morgan. Barclays had said it expected this to cost about £1.9m when his appointment was announced a month ago although the bill has now risen to more than £2m because of the rise in the value of JP Morgan’s shares. Continue reading...
Source: theguardian.com