Page 144 - Articles Written by JGJ EF DPS

Boss’ Pay

Banking excesses may have been toned down since the 2008 financial
crisis, with, for example, expense accounts capped, but some bankers,
are still able to command exorbitant remuneration with as much as £20
million ($26.2 million) a year in salaries, bonuses, and stock awards.

In the decade since the financial crisis the UK’s biggest banks paid their
chief executives £177m.

• “HSBC doled out £64.8million to chief executives between 2007
and 2016 despite being branded a 'financier to drug gangs'
• Barclays has given its heads £40.8million while they presided over

the Libor rate-rigging scandal
• Lloyds, which was rescued with £20.5billion of taxpayers' money

and was at the heart of the PPI mis-selling scandal, handed out
£47.1million.” (4)

Ten years on from the run on Northern Rock in 2007, some bank chief
executives are even being paid more now than they were before the
crisis.

Diagram 5; Best Paid Bosses Ref 4

Liberal Democrat leader Vince Cable said: 'It's absolutely extraordinary
that when these large banks are having to pay vast fines for systematic
misconduct, their chief executives are paying themselves such
staggering sums.' (5)