Barclays’ Board May Have Banned Bob Diamond From Coming Within 200 Feet Of The Building But That Doesn’t Mean They Want To See The Poor Guy Driving Himself Around Town
As you may recall, over the summer, former Barclays CEO Bob Diamond resigned in disgrace after revelations that bank employees had engaged in rampant rate rigging on his watch. And while the scandal clearly had an affect on his last performance review, Bob and friends o’ Bob will be pleased to hear that it didn’t actually hurt him too badly come pay day! In addition to a couple million pounds (for half a year’s work), it was announced today that Diamond’s 2012 package also includes lodging while he’s visiting old colleagues in town, as well as a company car and driver. No need to see the guy reduced to dirtying his hands opening door or walking, when he’s already been through so much.
Former Barclays chief executive Bob Diamond is set to be paid about 2 million pounds ($ 3 million) in July, a year after he left the bank following its Libor interest rate rigging scandal. Diamond is entitled to a year’s salary, pension and benefits, which will be paid in a lump sum on July 3, Barclays’ annual report released on Friday showed. Benefits include the use of a company car and chauffeur, private medical insurance, life insurance cover, accommodation while in Britain and tax advice.
Ex-Barclays boss Diamond set for $ 3 million payday [Reuters]
Related: Fewer Barclays Employees Made More Than $ 1.5 Million in 2012 [Dealbook]
Also related: Layoffs Watch ’13: Barclays