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CEO of scandal-hit Barclays gives up 2012 bonus


February 20. 2013 4:32AM
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(AP) The chief executive of Britain's scandal-hit Barclays bank says he's giving up his 2012 bonus amid a string of high-profile scandals over mis-selling products and market-fixing.


Antony Jenkins' was entitled to a maximum bonus of 2.75 million pounds ($4.35 million), or 250 percent of his 1.1 million pound salary.


His decision follows a year in which Barclays' reputation has been badly battered.


There was a wave of resignations following revelations that senior executives directed employees to fake a critical rate of interest used to price trillions of dollars in global contracts.


The bank has also been hit by a series of scandals in which the bank was deemed to have improperly sold financial products to consumers.


Associated Press


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