LONDON, April 15 (Reuters) - Barclays Plc shareholders should reject the British bank's remunerationpolicy, as pay for Chief Executive Antony Jenkins is"excessive", a shareholder advisory group said on Wednesday.
Pirc, an independent group that says it offers advice toinstitutional investors with assets of more than 1.5 trillionpounds ($2.2 trillion), said shareholders should opposeBarclays' remuneration report at the annual meeting on April 23.
More than a third of Barclays' investors didn't back its paypolicy at a stormy shareholder meeting last year after the bankincreased bonuses for 2013 despite profits falling. It cutbonuses for 2014 and there is not expected to be a backlashagainst its overall pay this year.
Pirc's grievance is over pay for Jenkins, who received 5.5million pounds ($8.1 million) last year, including a salary of1.1 million and the same in bonus.
"The CEO salary is considered to be above the upper quartileof its comparator group. In addition, the maximum opportunity(as percentage of salary) under all incentive schemes for theCEO is considered excessive," Pirc said.
Barclays declined to comment.
($1 = 0.6776 pounds) (Reporting by Mark Potter)