Barclays may defer bosses’ bonus payouts

A pay scheme that could defer bonuses for Barclays bosses until they retire is being considered by the under-pressure bank, it was reported yesterday.

By The Newsroom

Published 6th Aug 2012, 07:00 BST

Barclays has a reputation as one of the top-paying institutions in the City, with long-term bonus plans previously paying  out sums running to tens of millions of pounds for senior staff such as Jerry Del Missier and Rich Ricci.

And former chief executive Bob Diamond, who left the bank last month in the wake of its Libor scandal, has built up a fortune estimated by The Sunday Times Rich List to be worth £105m.

Yesterday’s report in the same newspaper said the proposed new pay plan was modelled on a scheme at rival HSBC, where its staff will be well paid if performance targets are met but with almost all the rewards locked up for years.

Barclays is also thought to be moving towards bonuses much more closely tied to the fortunes of the company rather than individual performance.