Barclays executives donate 1/3 of pay to COVID-19 charity – FF News

A few of the prime bosses at Barclays are donating a 3rd of their mounted wage over the subsequent six months to assist kickstart a £100m support package deal.

Chief government Jes Staley, chair Nigel Higgins and group finance director Tushar Morzaria are every giving up a part of their wage to the trigger and Barclays will match these donations in full.

These contributions are a part of the financial institution’s COVID-19 Neighborhood Help Package deal. This can be directed to charities which are serving to help companies and households which have come beneath pressure on account of the coronavirus pandemic.

For instance, Barclays is contributing an preliminary £50m, to be deployed primarily within the UK but in addition in abroad markets, together with the US and India.

It has additionally put apart £50m to match donations by employees to charities of their selection, given that they help these impacted by the virus.

With staff coming collectively, Barclays hope to inject as a lot as £150m into charities combating Covid-19.

Staley mentioned: “We wish to do extra to again the communities through which we reside and work, and to offer assist to those that have been hardest hit by the results of the coronavirus pandemic.

“That’s why we’ve launched this group support package deal, which we hope will make a optimistic distinction, working with charity companions right here within the UK and all over the world to ship assist the place it’s wanted most.”

As now we have reported beforehand, Monzo CEO Tom Blomfield lately introduced that he would forego his wage for 12 months after furloughing some employees.

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Sources: https://www.reuters.com/article/health-coronavirus-banks-sabadell/update-1-barclays-sabadell-bosses-give-up-some-pay-to-aid-coronavirus-relief-efforts-idUSL8N2BV6VZhttps://www.bloomberg.com/information/articles/2020-04-07/barclays-executives-donate-third-of-fixed-pay-to-virus-charitieshttps://www.fintechfutures.com/2020/04/barclays-top-bosses-give-up-a-third-of-their-paychecks-for-six-months/