Barclays chief forgoes bonus

The Chief Executive of Barclays, Antony Jenkins, has turned down his annual bonus for 2013 after the bank faced “very significant costs” due to a series of scandals.

In a statement, Jenkins said it would “not be right” to accept the award and that he had “respectfully declined” the unspecified bonus awarded to him by the bank’s board.

He said: “2013 has been a year of considerable positive change for Barclays, and I am particularly proud of the progress we have made in starting to rebuild trust, in defining and implementing a common culture, in repositioning the business for the future, and in significantly improving our balance sheet.