Barclays chief executive Antony Jenkins is to waive his bonus for last year, following a "difficult" year for the bank.
Jenkins, who was appointed chief executive in August, said he was aware of "considerable speculation" about whether he would be awarded a bonus. He decided today that he did not want to be considered for a bonus on top of his base salary of £1.1m. He was entitled to an annual bonus of up to £2.75m.
"The year just past was clearly a very difficult one for Barclays and its stakeholders, with multiple issues of our own making besetting the bank," he said in a statement today.
"I think it only right that I bear an appropriate degree of accountability for those matters, and I have concluded that it would be wrong for me to receive a bonus for 2012 given those circumstances."