THE head of Barclays investment banking Rich Ricci is to retire - weeks after pocketing an £18million windfall.
The flamboyant banker announced yesterday that he will leave at the end of June after 19 years with the firm. He will be replaced by co-heads Eric Bommensath and Tom King, who take on the roles next month.
Mr Ricci will receive a year's salary, unless he gets a new job in the meantime, but Barclays declined to reveal the details.
remaining from the "old guard" under former chief executive Bob Diamond, who quit after the bank's £290million Libor rigging settlement.
Mr Ricci's pay deals have attracted controversy in recent years. It was revealed in an ill-timed Budget Day announcement that he landed £18million from selling 5.7million shares given as previous annual bonuses.
Barclays head of wealth and investment, Tom Kalaris, will also retire on June 30 as part of the same shake-up. Source...
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The flamboyant banker announced yesterday that he will leave at the end of June after 19 years with the firm. He will be replaced by co-heads Eric Bommensath and Tom King, who take on the roles next month.
Mr Ricci will receive a year's salary, unless he gets a new job in the meantime, but Barclays declined to reveal the details.
remaining from the "old guard" under former chief executive Bob Diamond, who quit after the bank's £290million Libor rigging settlement.
Mr Ricci's pay deals have attracted controversy in recent years. It was revealed in an ill-timed Budget Day announcement that he landed £18million from selling 5.7million shares given as previous annual bonuses.
Barclays head of wealth and investment, Tom Kalaris, will also retire on June 30 as part of the same shake-up. Source...
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