Barclays’ bonuses are due to be announced this Friday. They are unlikely to be particularly generous: the British bank is being urged to cut costs and chief executive Antony Jenkins has agreed to forego his bonus in its entirety. Barclays is also in the process of making 400 senior staff redundant just prior to bonus day: as per the cliché, this year’s bonus at Barclays will be keeping your job.
Despite the dire prognostication for their pay, Barclays’ traders have recently donated huge amounts to charity.
This Just Giving page, from October 2013, shows that Barclays London-based fixed income rates team raised a massive £94.3k ($154k) for Leukaemia & Lymphoma Research.
While the average donation was £2k, some were a lot higher. Adeel Khan, head of European investment grade trading at Barclays, seemingly generated £13k. Nat Tyce, European head of rates trading at Barclays seemingly generated £13.2k. Paul Willers, a director at the bank donated £5k, as did Emad Taktak, the former head of hedge fund rates sales who appears to have left the bank. Biral Raja, an associate director gave £2k.
The £94k raised includes reimbursed income tax in the form of gift aid. But Barclays’ fixed income rates team still looks impressively generous – particularly when the current precariousness of their positions is taken into account.