You are here: Home - Investing -

Barclays exodus continues as remuneration chief quits

0
Written by:
26/07/2012
Alison Carnwath, the head of the Barclays remuneration committee that approved former CEO Bob Diamond’s £17m pay package earlier this year, has left the bank.

Carnwath said she could no longer devote sufficient time to her role at Barclays in a statement this afternoon. She has been a non-executive director at Barclays since August 2010.

Almost 27% of Barclays shareholders failed to support the bank’s executive pay package in April, with a further 4.6% abstaining.

A fifth of investors also voted against Carnwath’s re-election after she backed Diamond’s pay package.

Media reports later suggested Carnwath had unsuccessfully agitated for Diamond to forgo his bonus due to the bank’s struggles.

“With regret I have concluded that I am no longer able to devote sufficient time to my role as a director of Barclays given my other commitments,” said Carnwath today.

Carnwath remains the chair of Land Securities and a director of Zurich Insurance Group and US truck firm Paccar.

Her resignation from Barclays’ board follows hot on the heels of the resignation of Barclays chairman Marcius Agius, CEO Diamond and COO Jerry del Missier following the bank’s £290m fine for attempted manipulation of LIBOR.

Tagged:

Tag Box

Debt

Pension

Spending

Financial fitness

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Are you a first-time buyer looking for a mortgage?

Look no further, get the help you need by searching for your perfect mortgage

Which ISA is right for you? A round up of the six products available in 2017

From cash to innovative finance to lifetime, here's our guide to the ISA products available to savers this yea...

Guide to buy-to-let tax changes

In late 2015, former Chancellor George Osborne announced a range of  tax measures aimed at landlords, which t...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Five fund tips for a 0.25% interest rate environment

With interest rates stuck at a record low 0.25% and expectations rates could fall to close to zero, here are ...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Investing your money

Alliance Trust Plc gives you smart insight into how to invest your money

Money Tips of the Week

Read previous post:
2194526-european-flag
Eurozone crisis continue to affect investor confidence

Instability in Europe, bad news from the US and China led to European investors withdrawing €4.2bn from long term funds...

Close