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Wednesday 25th July 2012 | 20:35
Chris Leslie MP, Labour's Shadow Financial Secretary to the Treasury, commenting on reports that Jerry del Missier is to receive a cash pay-off worth £8.75m, said:
"Having resigned from Barclays over the Libor fixing scandal, people will find the scale of this award completely inappropriate. Bob Diamond rightly waived most of his pay off and Mr del Missier ought to do the same.
"It is staggering that the contracts of these banking executives seem to deliver such vast rewards even in circumstances such as this resignation. The banking inquiry in Parliament - and the internal review by Barclays - must surely address this win-win culture which sends all the wrong messages to other bankers and their customers."