Barclays' Chairman Leaves on Halloween: But Don't Fear For Him

Barclays Take You For A Ride

Marcus Agius is to bow out as chairman of Barclays on 31 October – the same day that the bank is expected to report a loss following the shock £700m increase in its provision for payment protection insurance.

He is falling on his sword for the £290m Libor-rigging fine but his pain is being cushioned. Agius is being handed an office in the bank's upmarket townhouse in Mayfair and will continue to receive his £750,000-a-year salary. He resigned on 2 July and was on six months' notice – so presumably these benefits will cease next February. Still, it's better than an instant blast of the real world.

Powered by Guardian.co.ukThis article was written by Jill Treanor, for The Guardian on Thursday 18th October 2012 21.42 Europe/London

guardian.co.uk © Guardian News and Media Limited 2010

 

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