No – it’s not satire. Really.
Barclays Bank has decided to clamp down on their out-of-control executive bonus and pay structure – by paying an executive £3m to look into how to solve the problem.
The bank has hired Hector Sants as its Head of Compliance to look into the problem of high executive pay. He’ll be getting a £700,000 salary, a £1m bonus and a £1.5m incentive payment.
This ridiculous self-parodying by banks and financial institutions has to stop immediately.
Otherwise how the hell are satirists ever going to be able to compete?
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