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Possible Au4 million payout for Barclays boss.

Summary: The Chief Executive of Barclays Bank could recieve a Au4 million payout, which could reignite anger over bankers' bonuses.

The Chief Executive of Barclays Bank could recieve a Au4 million payout, which could reignite anger over bankers' bonuses.

Bob Diamond, who has so far refused to comment about what he will pocket for 2011, could receive more than Au10 million, including his Au1.3 million salary, bonus of up to Au3.4 million and long-term incentives.

According to The Sunday Times, Diamond might not receive the full amount although the group's annual report which is due out on Friday could reveal a total payout of at least Au3 million to Au4 million.

The bank was last week accused by HMRC of trying to avoid paying more than Au500 million in tax, in schemes described as "highly abusive" avoidances.

The annual report will also give details of the pay of at least five senior executives at the bank.

Recent anger at levels of pay-outs in the City has seen other banks such as Royal Bank of Scotland chief Stephen Hester turn down his Au963,000 bonus and Lloyds boss Antonio Horta-Osorio waive his payout following a leave of absence.

Barclays and other banks have maintained that they need to pay competitive salaries to attract and retain the best staff.

Independent Television News Limited 2011. All rights reserved.

Independent Television News Limited 2012. All rights reserved.

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Publication:Independent Television News Limited (ITN)
Date:Mar 8, 2012
Words:243
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