The boss of one of Britain's biggest banks will have his pay slashed after he admitted trying to unmask a whistleblower. Barclays said in a statement that CEO Jes Staley tried to identify the author of a letter that the bank was treating as an attempt to report wrongdoing. "It will therefore be issuing a formal written reprimand to Mr. Staley and has decided that a very significant compensation adjustment will be made to Mr. Staley's variable compensation award," it said in the statement. Staley's total pay came to £4.2 million ($5.2 million) in 2016, including bonus, benefits and pension payments. According to the bank's annual report, he could have made more than £7 million in 2017, including bonuses.

Source: CNN April 10, 2017 07:41 UTC