NEWS
27/04/2012 11:57 BST

Barclays Stung By Shareholder Revolt On Top Pay

Barclays was stung by shareholders today after nearly a third of their votes failed to back the bank's bumper pay awards.

Following a heated annual meeting, Barclays revealed that 32% of investors voted against or withheld votes for the bank's pay report, while 24% failed to back remuneration committee chairman Alison Carnwath.

Chief executive Bob Diamond sparked anger among shareholders when it emerged he would receive £17.7 million in salary, bonus, benefits and vested long-term share awards last year, despite admitting his bank's performance was "unacceptable" in 2011.