Barclays new CEO made $400,000 in his first month

Barclays

Barclays new CEO Jes Staley grabbed £277,000 ($388,000) for one month of work in 2015.

Staley left JP Morgan to take the top job at the British bank on December 1. In his first 30 days Staley received £196,000 in pay, £48,000 in taxable benefits, and £33,000 in pension contributions, according to the bank’s annual report.

After stepping into his new role Staley’s first task was reporting an annual loss of £394 million ($550 million).

The results, published Tuesday, were worse than expected and the bank’s shares dropped nearly 10% after the announcement.

Barclays shares

Before he left the CEO position former head Anthony Jenkins was awarded a bonus of £505,000 ($707,000), despite being fired half way through the year.

Jenkins was ousted as chief executive in July after just three years in the top job. Jenkins earned £3.4 million ($4.8 million) in 2015.

Barclay’s paid a total of £1.67 billion ($2.3 billion) in bonuses in 2015, down 10% on the previous year.

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The average bonus for investment bankers at Barclays also fell, to £46,500 in 2015 from £51,400 in 2014.

Barclays plans to cut back in Africa and slash dividend payments as it continues a broader realignment process.