Barclays presidents �60m compensate deal

By Nick Collins 800AM GMT twenty March 2010

Comments fourteen |

Bob Diamond is attempting to "change the narrative" of the predicament

The fender compensate understanding awarded to Bob Diamond, one of the City"s wealthiest bank chiefs, came notwithstanding attempts by the supervision to quell the amounts paid to high-flying bankers.

The package is formed on a �384,000 salary, but by a multiple of perks together with share bonuses, Mr Diamond who was praised for waiving his reward last year could consequence some-more than 150 times that amount.

Retention bonuses behind at Merrills Barclays staff bluster set upon movement over pensions Diamond in line for �10m as CVC bids �3bn for Barclays iShares McCarthy & Stone to reignite Lloyds reward row Barclays arch senior manager John Varley says contemptible for banks predicament

Barclays"s annual inform yesterday suggested that Mr Diamond, the head of Barclays Capital, warranted �26.8 million by offered his shares in Barclays Global Investors.

He was additionally since �6 million in Barclays shares, with the probability of earning an additional �12m in shares over dual years if opening associated targets are hit.

Mr Diamond, 58, additionally done �15.6 million from dual sets of bonuses he was awarded in 2005 underneath a long-term inducement scheme.

John Varley, arch senior manager of Barclays, picked up an annual income of �1.1 million. He as well waived his right to a bonus, but saw his grant account climb from �12.3 million send worth to �17 million.

Both men"s deals are theme to to "claw-back" conditions that would see a little compensate cold if targets are not met.

Liberal Democrat Treasury orator Vince Cable indicted Mr Diamond of "trying to set up the greatest investment bank in the universe on the behind of the taxpayer."

Labour MP Lindsay Hoyle told the Daily Mail "The nation as a total will be disgusted. Far from there being restraint, it looks similar to the excesses have left over all grasp and decency."

Barclays that was not one of the banks bailed out by the supervision paid staff �2.7 billion in money and share bonuses last month following the proclamation of �11.6 billion pre-tax profits.

At the time Mr Varley pronounced "I goal you can see a bank that is supportive to the world."