LONDON — James E. Staley, the incoming chief executive of Barclays, has bought shares in the British bank valued at about 6.5 million pounds, or about $10 million, the lender said on Thursday. Mr. Staley bought 2.79 million shares at an average price of 233 pence a share, the bank said in a news release. Shares of Barclays were down slightly at 230.9 pence in midmorning trading in London. As an executive director of the company, Mr. Staley is required to hold shares equivalent to four times his annual salary and has five years to reach that amount. His purchase exceeds that threshold. Mr. Staley, a former top executive at JPMorgan Chase, was named chief executive of Barclays last month and will assume the role on Dec. 1. He will succeed Antony Jenkins, who was ousted in July after directors lost confidence in his ability to improve shareholder returns. As chief executive, Mr. Staley will receive annual compensation of up to £8.25 million, including an annual salary of £1.2 million. He is also to receive £1.93 million in Barclays shares to make up for the loss of an unvested share bonus he received while at JPMorgan.
The new CEO of Barclays, Jes Staley, has bought 2.8 million shares at 2.33p of a total cost of ££1.2mm in the bank, being at the lowest price at which they have traded since January. Barclays have a rule that directors should own shares worth four times their salaries, which Staley has now achieved, as his salary is 6.4. Staley will be taking over on 1 December and faces mounting pressure from shareholders to set out a strategy for the troublesome investment banking business.