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For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.


We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

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In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

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We store and use information you provide as follows:

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We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.


We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.


The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.


Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.


Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.


If you want more information or have any questions or comments relating to our privacy policy please email [email protected] in the first instance.

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Barclays PLC (BARC)

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Tuesday 15 February, 2011

Barclays PLC

Disclosure of compensation outcomes and practices

RNS Number : 2259B
Barclays PLC
15 February 2011


15 February 2011


Barclays PLC



Barclays expands disclosure of compensation outcomes and practices



Barclays has today released additional detail on its revised compensation framework alongside its Preliminary Results Announcement. This recognises the significant interest in bank compensation. Aggregate 2010 performance awards have been reduced as a result of a number of factors, including Barclays commitments in the context of Project Merlin. Barclays pay practices and outcomes are fully compliant with the FSA's revised Remuneration Code.


Notwithstanding a 32% increase in 2010 Group profit before tax, and a 2% increase in Barclays Capital profit before tax excluding own credit, 2010 performance awards were down relative to 2009:

·     at a Group level by 7%;

·     at a Barclays Capital level by 12%.


Total performance awards for UK-based staff were down broadly in line.


These performance awards include all elements that relate to 2010 performance, excluding salaries and performance awards deferred from prior years, but including awards deferred to future years. They include other current year contractual awards (e.g., guarantees, commitments, commissions and new long term incentive plan awards).


For the first time, Barclays has introduced a Contingent Capital Plan as a part of deferred compensation arrangements for all senior staff. Under the Plan:

·     payment of awards is deferred over three years and is only made if the  Group's Core Tier 1 capital position at the point of vesting is at least 7%, the new Basel III regulatory minimum;

·     the interests of senior staff are directly aligned with shareholders and regulators by linking the payment of awards under the Plan to the Group's capital position; and

·     a potential capital buffer is created in a stress scenario through the potential for the vesting of Plan awards to be forfeited.


Barclays has also expanded significantly the number of staff subject to 60% deferral of 2010 performance award beyond those required by the FSA's Remuneration Code.


Detail of Executive Directors' remuneration will be disclosed in Barclays Annual Report, consistent with normal practice.





Commenting on these revisions to Barclays compensation framework and outcomes today, Bob Diamond said:


"We are committed to demonstrating that we are both responsible in our compensation decisions and practices and that we take our regulatory obligations and UK Government commitments seriously. In particular, our overall performance awards for 2010 have been directly influenced by the commitments that we have made under Project Merlin.


In reaching our final decisions, we have had to balance carefully these obligations with our need to ensure that our decisions are commercial in a highly competitive global environment and with the requirements of our shareholders.


We welcome the UK Government's commitment to ensure that London remains a leading financial centre and the competitiveness of the financial firms based in the UK, in particular by ensuring those firms are able to compete on a level playing field."


In introducing Barclays 2010 Full Year Results today, Marcus Agius said:


"The decisions embedded in today's results reflect the careful deliberation of the Board and, in particular, the Board Remuneration Committee. We believe, in the context of the Group's absolute and relative performance, they demonstrate clearly our responsibility and are fully compliant with the FSA's Remuneration Code."




For further information please contact:


Investor Relations

Media Relations

Stephen Jones

Giles Croot

+44 (0) 20 7116 5752

+44 (0) 20 7116 6132


About Barclays PLC

Barclays is a major global financial services provider engaged in retail banking, credit cards, corporate and investment banking and wealth management with an extensive international presence in Europe, the Americas, Africa and Asia. With over 300 years of history and expertise in banking, Barclays operates in over 50 countries and employs over 147,000 people. Barclays moves, lends, invests and protects money for over 48 million customers and clients worldwide.

For further information about Barclays, please visit our website




Extract from Barclays PLC Preliminary Results Announcement 2010


Chris Lucas, Group Finance Director's Review:


Staff costs increased 20% to £11.9bn (2009: £9.9bn), of which performance costs amounted to £3.5bn (2009: £2.8bn). Within this total, 2010 charges relating to prior year deferrals increased by £0.7bn relative to 2009. The Group 2010 performance awards (which exclude charges relating to prior year deferrals but include current year awards vesting in future years) were down 7% on 2009 at £3.4bn. Within this, the Barclays Capital 2010 performance awards were down 12% at £2.6bn, compared to an increase in headcount of 7%.


Details of Performance Awards



Barclays Capital

FY 10

FY 09


FY 10

FY 09








Current year awards







Forward deferrals















This information is provided by RNS
The company news service from the London Stock Exchange

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