Friday, April 19, 2013

Tough At The Top?

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

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