Workers at Barclays bank in Canary Wharf are getting ready to meet their new chief executive Jes Staley.
The former head of JP Morgan investment bank whose appointment was announced last month, told staff he was joining with “excitement and optimism for the future” and is scheduled to address employees at the company’s headquarters on Wednesday, December 2.
Mr Staley struck a deal for Barclays to buy him out of his bonuses he would have received from the investment banking giant on top of a generous salary and helping relocate his family.
But, with JP Morgan’s recent rise in share price, his bonus had risen to more than £2million, leaving Barclays a bigger bill to secure his services.
Including his £8.2million salary, the bank will pay him more than £10million in his first year of employment.
Such is Mr Staley’s star power in banking circles, Barclays shares rose on his first day in office. The bank was the biggest riser in the FTSE 100, up 4.6% at 233p.
According to a story in The Guardian, Staley’s contract states the bank will pay his accommodation expenses for 90 days and provide him with advisers to help him find a suitable home in the UK.
Barclays will also cover the cost of moving personal items that fit into a 12m container but has ruled out covering the removal costs of specialist items such as wine or pianos.ro