Company: BCS
Filing Date: 2025-02-13
Form Type: 20-F
Source: 0000312069-25-000114
Chunk: 244

Company: BARCLAYS PLC
Filing Date: 2025-02-13
Form: 20-F
Chunk 244
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1 bonus cap not been introduced. For example, if we were to take the maximum total compensation opportunity of the Barclays CEO in 2011, and assume salary increases of 2%-3% per annum thereafter, the maximum total compensation opportunity for the Barclays CEO in 2025 might have been in the range of c.&pound;15m-&pound;17m. Barclays CEO maximum total compensation opportunity for 2024 compared to market (&pound;m)1 &pound;m n Fixed pay n Max incentive n Barclays fixed pay n Barclays max incentive &#8364; Indicates the 'Bulge bracket' investments banks &#8224; Firms that may amend their DRP / max total comp. post bonus cap removal Note: 1 Market total compensation opportunity data provided by Willis Towers Watson (WTW), from each company&#8217;s public financial year 2023 disclosures (including assumptions if no maximum total compensation was disclosed). The uncompetitive pay positioning creates other challenges. For example, the Committee is conscious that the uncompetitive pay positioning compared to market would likely cause significant challenges if we were faced with a succession scenario. Candidates for the Barclays CEO or GFD roles must have significant breadth and depth of investment banking and global markets knowledge and experience, so the candidate pool is limited, and the current ED pay opportunity is likely to be unattractive for many of these candidates, both internal and external: &#8226; Internally, over recent years the total compensation awarded to several Barclays Executive Committee members has been materially higher than that awarded to the Barclays CEO (in some cases up to 50%). This is reflective of the levels of pay these roles command in the market. Venkat himself had to agree to a pay reduction when he was promoted to the CEO role. &#8226; While the DRP does not cap pay below Board level, the current level of ED pay opportunity can also make it more challenging to hire into other senior roles that are critical to delivering our strategy, due to candidates&#8217; concerns and perception around potential pay compression and future opportunity. &#8226; Externally, pay opportunity for business heads reporting to the CEO is in many cases higher than the pay opportunity for the Barclays CEO. Business heads' pay at those peer companies for which this data is available can be seen in the chart on the following page. Strategy Shareholder information Climate and sustainability report Risk review Financial review Financial statements Barclays PLC 2024 Annual Report on Form 20-F 126Governance Remuneration report