A former senior Barclays executive involved in the interest rate manipulation scandal is set to receive a $13.6 million payout, a compensation package that could add to the scrutiny of the British bank.
Jerry del Missier, the bank’s former chief operating officer who resigned this month, has been a central figure in the firestorm.
In June, British and American authorities fined Barclays for reporting false rates to increase profits and make the bank look healthier during the financial crisis. According to regulatory documents, a senior executive — later identified as Mr. del Missier — asked bank employees to lower the firm’s submissions of the London interbank offered rate, or Libor.
Source: Dealbook - NYtimes