Barclays head of remuneration steps down

Scandal-hit British bank Barclays on Wednesday said the head of its remuneration committee, Alison Carnwath, had resigned from the board with immediate effect for personal reasons. "With regret I have concluded that I am no longer able to devote sufficient time to my role as a director of Barclays given my other commitments," Carnwath said in a statement issued by the company.
In April, more than a fifth of Barclays shareholders voted against Carnwath's re-election as chair of the remuneration committee amid mounting anger over former chief executive Bob Diamond's vast pay package. Diamond resigned earlier this month after the London-listed bank was fined £290 million ($451 million, 371 million euros) for the attempted manipulation the Libor and Euribor interbank interest rates between 2005 and 2009. US-born Diamond, who had become a symbol of excessive pay in Britain, also gave up bonuses worth £20 million following his resignation, although he will still receive a final pay-off of around £2.0 million.