09.03.2012
By Simon Miller
Barclays' Bob Diamond received a £6.3m pay packet last year despite an "unacceptable" year for the bank.
As focus turns once again to bank bonuses, Barclays cut his pay from £9m in 2011 and froze his pay for this year after the bank missed its target. Diamond was awarded a £2.7m stock bonus and a future performance-linked bonus of £2.25m and his base salary remained at £1.35m.
However, Diamond is not the highest paid director at Barclays with two unidentified bankers receiving £6.7m and £6.5m respectively.
The pay awards were revealed in a statement from the bank and folllows an announcement last month that it may fail to hit the 13% target for return-on- equity by 2013 after it fell to what Diamond said was an “unacceptable” 6.6% in 2011.
Other stories you may find of interest:
Diamond agrees bonus condition
Barclays’ chief executive Bob Diamond and group finance director Chris Lucas have agreed new conditions to their bonuses following shareholder demand.
Diamond agrees bonus condition
Barclays’ chief executive Bob Diamond and group finance director Chris Lucas have agreed new conditions to their bonuses following shareholder demand.
