Barclays has awarded its CIO Darryl West a share package worth £504,220 at the market price of 232.59 pence per share.
The bank announced an award of £31.8 million in shares to 12 of its directors today, with West’s 216,785 shares being the second smallest amount. The total number of shares awarded was nearly 25 percent less than last year, when just over £40 million worth of shares was awarded to nine executives.
However, West sold 101,890 shares (worth £237,000) to meet tax liabilities.
Barclay’s HR director Irene McDermott Brown, received the lowest amount, 114,481 shares, worth £266, 271.
Meanwhile, the bank’s group CEO Antony Jenkins received 1,640,226 shares worth £3.81 million.
However, it was the bank’s Americas CEO, Hugh Skip McGee, who was awarded the highest amount (£8.87 million), followed by Barclays co-CEO of investment banking Eric Bommensath (£8.64 million).
West joined Barclays as CIO from Lloyds Banking Group in November. The same month, he took up the interim role of group chief operations and technology officer when Shaygan Kheradpir left the position.
West's basic pay has not been disclosed.
Royal Bank of Scotland (RBS), which is 81 percent owned by the taxpayer, recently awarded its group chief administrative officer, Simon McNamara, who is responsible for IT at the company, a share package worth up to £1.75 million.
The share deal was tied to McNamara’s and the bank’s performance over the next three years.
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