Barclays New Chairman Wants Employees To Work Harder For The Money
One of Mr. Walker's top priorities will be reforming the bank's image. He was known recently for his "Walker review" on bank governance, commissioned by the U.K. government in the wake of the financial crisis. In the report, Mr. Walker called for increased time commitments and financial-industry experience from nonexecutive directors. He has also called for banks to rein in fat pay packages, and is expected to examine compensation practices at Barclays. That could potentially mean the generous sums that were doled out to Mr. Diamond and other senior bankers there will be history. [WSJ]
