Barclays Boss Bob Diamond's Bonus Expected To Be £4m

Bob Diamond Barclays Bonus

First Posted: 4/03/2012 11:41 Updated: 4/03/2012 11:56   PA

Barclays will reignite anger over bankers' bonuses this week when it reveals a total pay-out of up to £4 million for its boss Bob Diamond.

Its chief executive, who has so far refused to comment about what he will pocket for 2011, could potentially receive more than £10 million, including his £1.3 million salary, bonus of up to £3.4 million and long-term incentives.

Although he is not expected to receive the full amount, the group's annual report due out on Friday will reveal total pay of at least £3 million to £4 million, according to The Sunday Times.

The announcement is likely to anger critics after the bank was last week accused by HMRC of trying to avoid paying more than £500 million in tax, in schemes described as "highly abusive" dodges.

And last month it revealed a 3% fall in profits to £5.9 billion in 2011 and was criticised for not cutting bonuses enough.

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

Rich Ricci and Jerry del Missier, who jointly run its investment banking divisions, are both expected to have earned more than Mr Diamond. It is believed they were both paid more than £10 million in 2010, while Mr
Diamond was paid about £6.7 million.

The group's annual results last month revealed a £1.5 billion bonus pool for investment bankers, which is 32% smaller than the previous year.

But major shareholder group the Association of British Insurers criticised the cut, saying it was only in-line with a 32% fall in profits at the investment arm.

Annual incentives for executive directors and the eight highest paid senior executive officers were down 48% compared to 2010 on a like-for-like basis, though Mr Diamond would not confirm how his own pay fitted into this decline.

The anger at levels of pay-outs in the City has seen Royal Bank of Scotland chief Stephen Hester turn down his
£963,000 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.

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Barclays will reignite anger over bankers' bonuses this week when it reveals a total pay-out of up to £4 million for its boss Bob Diamond. Its chief executive, who has so far refused to comment ab...
Barclays will reignite anger over bankers' bonuses this week when it reveals a total pay-out of up to £4 million for its boss Bob Diamond. Its chief executive, who has so far refused to comment ab...
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11:43 AM on 03/05/2012
The name Diamond, (like Gold, Silver, Ruby etc), is a name commonly adopted by Jewish immigrants who ran from the Russian Pogroms circa 1900, they wanted to appear as English or American as possible so they changed their Russian names like Abramovitch, Dimanski, Polanski etc.
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Norman Mitchison
11:35 AM on 03/05/2012
Diamond by name diamond by salary?
11:15 AM on 03/05/2012
Where's my comment gone !!!!!!!!!!!!!!!!!
11:10 AM on 03/05/2012
What a disgrace ......... no wonder they cant pay decent interest rates on ISA's and savings accounts ......
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cynic123
09:33 AM on 03/05/2012
And this from the so called working mans bank. I will closing my account has soon as possible
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lillian12130
09:26 AM on 03/05/2012
I know what to do from now on, get into debt avoid paying tax and i will get a bonus whilst people in this so called civilised country either starve to death or freeze to death or both while there is child poverty, while there are people sleeping in the streets , just call me what rhymes with Banker .
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David Daisy May Boldock
Yorkshire..Gods Own Country
09:40 AM on 03/05/2012
Do you really need me to answer that lass lol
08:48 AM on 03/05/2012
Obscene!! We keep banks alive with our taxes! They are currently increasing mortgage rates, they don't lend to small business to promote growth, JUST TAKERS! they want it always.

Who rules the Country? The Government or the banks
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janno000
09:17 AM on 03/05/2012
definately the banks.
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SATCHMAN99
09:22 AM on 03/05/2012
The banking sector and services sector run this country. It was all set up by Camerons Old gran many years ago!!
05:30 AM on 03/05/2012
No he will not give up his bonus like others have.
We are paying again.... I have just had a 2% interest increase on my Barclaycard
08:31 PM on 03/04/2012
Obviously more money than sense
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gourgandine
French but friendly :))
07:16 PM on 03/04/2012
What , only 4 millions pounds bonus ???? he should quit immediately ...
I can see that the financial crisis is already behind us , it' reassuring ! Just try to go and get a mortgage for a house .

French sense of humour
07:03 PM on 03/04/2012
Three Cheers for tthe people who bank at Barclays. You really must feel honoured to know that you are a contributer to Diamond's bonus. WELL DONE TO YOU ALL
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SATCHMAN99
09:07 AM on 03/05/2012
Same as people who bank with RBS and LLoyds and every other bank in the world who are paying bonuses out.
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janno000
09:18 AM on 03/05/2012
change your bank account to one of the more ethical ones.
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SATCHMAN99
09:36 AM on 03/05/2012
Three cheers to those who shop at sainsburys and Tescos. You must feel great about helping pay bonuses to their staff and CEO's..Silly comment Zak Doberman!!
06:50 PM on 03/04/2012
LOL! Well now you know why the interest rates are going up for then! Whats the point of having a wage when you have a lottery winning bonus! They just don't live on the same planet anymore! I would quite happily retire on that money alone! LOL!
06:37 PM on 03/04/2012
When are Barclays going to pay a decent amount of interest to those who have savings accounts. Stop paying bonuses to the top people who do not deserve them and look after the customers.
06:44 PM on 03/04/2012
you have to pay bonuses to the people at the very top, otherwise all the top bankers would work elsewhere and then we would have people who really dont know what there doing in charge, then where would we be, probably worse than greece
06:52 PM on 03/04/2012
Just rip off Britain! LOL!
07:04 PM on 03/04/2012
Are you on the same planet as the rest of us? Or, have you just arrived from ZOG??
06:33 PM on 03/04/2012
Ah... the joys and sense of unity... Even in the face of impending poverty and world economic collapse....we are all in the same boat and suffering together.
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06:25 PM on 03/04/2012
i just heard thats hes going to give the money to cat protection
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janno000
09:22 AM on 03/05/2012
I heard he changed his name to Cat Protection. :-)