Barclays chief executive Antony Jenkins has rejected his bonus package for 2012, saying it would be wrong for him to accept it after a year in which scandal engulfed the bank.
He said 2102 was "clearly a difficult one for Barclays and its stakeholders, with multiple issues of our own making besetting the bank.
"I think it only right that I bear an appropriate degree of accountability for those matters and I have concluded that it would be wrong for me to receive a bonus for 2012 given those circumstances."
Barclays was heavily criticised for its involvement in the LIBOR scandal this summer and fined £290m in total by UK and US regulators.
Previous chief executive Bob Diamond left the firm in August after appearing before the Treasury Select Committee to answer questions about the bank's involvement in LIBOR rigging.
Jenkins said his decision to renounce his bonus was in part an attempt to curb speculation over the reward package.
He would have been eligible to receive up to £2.75m, according to the FT.
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