Senior Barclays staff delay pay

Tim Wallace
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MANAGING directors in Barclays’ investment bank will not get an upfront bonus for 2012, instead receiving the payouts – half cash and half shares – over the next three years.

More junior staff will receive a bonus of up to £65,000 in cash upfront, gaining more at the expense of the 1,200 MDs affected.

It is part of a push by the bank to expose senior staff to more risk, in line with the drive to improve the institution’s culture and promote long-term thinking.