Rich Ricci, head of Barclays' investment bank has been made redundant. Unlike members of the working class who suffer this fate this is not a financial blow to him. He "earned" £44 million in 2010. If he doesn't find another post this year he will still receive his £700,00 annual salary. He has other consolations. 'Less than a month ago, Mr Ricci pocketed an £18 million windfall, selling 5.7 million shares received as part of annual bonus and long-term incentive schemes.' (Times, 19 April) He is estimated to have a personal fortune of £100 million so redundancy is hardly a shattering blow. RD
The Glasgow & Edinburgh Branches Blog. Towards a better understanding of the world, in order to change it.
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