Barclays 2012 Annual Report Download - page 100

This page and pages 99-103 provide details of executive Directors’ remuneration in line with current UK directors’ remuneration disclosure
requirements. Accordingly the figures shown in the tables on pages 98-99 for Antony Jenkins and for Bob Diamond are, unless otherwise stated,
only for the period during which they served as executive Directors. Antony Jenkins’ full year 2012 remuneration is shown on pages 88-89.
Executive Directors - total remuneration (audited)
Antony Jenkins Chris Lucas Bob Diamond
2012
£000
2012
£000
2011
£000
2012
£000
2011
£000
Salary 373 800 800 685 1,350
Current year cash bonus 0 0 000
Current year share bonus 0 0 000
Deferred cash bonus 0 0 000
Deferred share bonus 0 0 1,800 02,700
Total of salary and bonus 373 800 2,600 685 4,050
Long term incentive award 1,467 1,067 1,333 02,250
Total remuneration 1,840 1,867 3,933 685 6,300
Antony Jenkins became an executive Director on 30 August 2012. The figure shown above for 2012 salary is for the period from 30 August 2012 to
31 December 2012. Antony Jenkins was a member of the boards of Absa Group Limited and Absa Bank Limited during 2012. The directors fees for
the Absa board positions were paid to Barclays not Antony Jenkins. Bob Diamond ceased to be an executive Director on 3 July 2012. The figure
shown above for 2012 salary is for the period from 1 January 2012 to 3 July 2012. In addition, Bob Diamond is entitled to salary for the period from
4 July 2012 to the date of termination of his employment (no later than 2 July 2013) at the rate of £1.35m per annum. This is payable in a lump
sum at the end of his notice period.
Executive Directors - 2012 and 2013 salary
Salary at
31 December 2012
£000
Salary at
1 April 2013
£000
Date of
previous
increase
Antony Jenkins 1,100 1,100 30 August 2012
Chris Lucas 800 800 1 April 2010
Bob Diamond’s salary as an executive Director was £1.35m per annum (date of previous increase was 1 January 2011).
Executive Directors - Pension (audited)
Age at
31 December
2012
Completed
years of service
Accrued pension
at 31 December
2012
£000
Transfer value of
accrued pension
at 31 December
2011
£000
Transfer value of
accrued pension
at 31 December
2012
£000
Increase in
transfer value
during
2012
£000
2012
cash in lieu
of pension
£000
Antony Jenkins 51 12 3 190 232 42 123
Chris Lucas 52 5 – –– – 200
Bob Diamond 61 15 61 599 678 79 343
Antony Jenkins left the UK pension scheme on 1 April 2012, and started receiving cash in lieu of pension. He was appointed as an executive
Director on 30 August 2012, and the 2012 cash in lieu of pension shown above is for the period 30 August 2012 to 31 December 2012. The
accrued pension shown above relates to his 1964 section pension only, whereas the transfer values include a further defined benefit (cash
balance) earned in the Afterwork pension section. The main reasons for the increase in transfer value during 2012 are changes to the underlying
financial assumptions. Antony Jenkins’ accrued pension increased during 2012 due to inflation.
Bob Diamond ceased to be an executive Director on 3 July 2012. The 2012 cash in lieu of pension shown above is for the period 1 January 2012 to
3 July 2012. From 4 July 2012 until the date of termination of his employment (no later than 2 July 2013), he is entitled to cash in lieu of pension (at
a rate of £675,000 per annum). This will be paid in a lump sum at the end of his notice period. Bob Diamond ceased to be an active member of
Barclays US defined benefit and contribution plans as at 31 December 2010. The increase in the transfer value during 2012 is primarily due to
changes in US financial assumptions and being one year closer to retirement age. Bob Diamond’s accrued pension increased during 2012 due to
exchange rate fluctuations.
Statutory remuneration disclosures
barclays.com/annualreport98 I Barclays PLC Annual Report 2012