Del Missier set for £8.75m pay off
Former Barclays chief operating officer Jerry del Missier, who resigned in the wake of the Libor rigging scandal, will get a cash pay off worth £8.75m according to Sky News.
Labour has urged Mr del Missier to follow the example of former Barclays chief executive Bob Diamond and waive most of his pay off.
Shadow Treasury minister Chris Leslie 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.”
The news comes after US treasury secretary Timothy Geithner said he knew there were incentives and opportunities to fix the Libor rate in 2008.