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07/03/2011
Barclays Chief Executive Set For £6.5m Bonus
In Barclays latest published remuneration report, Bob Diamond, the bank's new Chief Executive is geared to receive a hefty bonus of £6.5m.
As head of Barclays' investment banking and wealth management operations, the bonus was awarded for his 2010 performance.
Mr Diamond only took over the Chief Executive position at the beginning of this year.
The bonus is additional to his £250,000 annual salary.
The move is fuelling ongoing controversy regarding banks failure to restrain pay and bonuses during the financial crisis.
The new Chief Executive's bonus is made up of £1.8m in shares and a deferred award of £4.7m in shares and contingent capital - bonds that convert into shares in certain circumstances.
(BMcN/GK)
As head of Barclays' investment banking and wealth management operations, the bonus was awarded for his 2010 performance.
Mr Diamond only took over the Chief Executive position at the beginning of this year.
The bonus is additional to his £250,000 annual salary.
The move is fuelling ongoing controversy regarding banks failure to restrain pay and bonuses during the financial crisis.
The new Chief Executive's bonus is made up of £1.8m in shares and a deferred award of £4.7m in shares and contingent capital - bonds that convert into shares in certain circumstances.
(BMcN/GK)
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