Barclays CEO Antony Jenkins has declined to accept his 2013 bonus of up to £2.75 million primarily due to a series of scandals that affected the reputation of the bank.
Jenkins in a statement said that Barclays has progressed in defining and implementing a common culture, in repositioning the business for the future, and in significantly improving balance sheet.
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"While all of these actions are in the long-term interests of our shareholders, I am aware of the very significant costs which have been required to address legacy litigation and conduct issues in 2013, as well as to exit assets and businesses we no longer wish to participate in.
"When combined with the substantial rights issue we completed in the autumn, I have concluded that it would not be right, in the circumstances, for me to accept a bonus for 2013, and I have therefore respectfully declined the one offered to me by the board," Jenkins added.
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