A trader at Barclays bank was paid £170million in the five years after the financial crisis brought the country to its knees.
Jonathan Hoffman, 42, earned the vast sum at a time when banks were under pressure to reign in bonuses to avoid the risky behaviour which triggered a global economic meltdown.
The payment out-strips the £120million paid to the bank’s disgraced chief executive Bob Diamond over a similar period and sheds new light on the colossal sums paid to bankers even after the recession.
Traders’ pay is usually kept a closely-guarded secret, with only the top boardroom executives’ salaries publicly released.
But the enormous package was revealed during a court battle between Mr Hoffman and the now-defunct US investment bank Lehman Brothers over £53million in unpaid bonuses.
Mr Hoffman worked for investment giant Lehman Brothers until it collapsed in 2008 under the weight of its own high-risk investments – triggering the UK recession and pushing the world economy into freefall.
But six years on, Mr Hoffman is still pursuing the bankrupt firm for lost bonuses. Full story...
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Jonathan Hoffman, 42, earned the vast sum at a time when banks were under pressure to reign in bonuses to avoid the risky behaviour which triggered a global economic meltdown.
The payment out-strips the £120million paid to the bank’s disgraced chief executive Bob Diamond over a similar period and sheds new light on the colossal sums paid to bankers even after the recession.
Traders’ pay is usually kept a closely-guarded secret, with only the top boardroom executives’ salaries publicly released.
But the enormous package was revealed during a court battle between Mr Hoffman and the now-defunct US investment bank Lehman Brothers over £53million in unpaid bonuses.
Mr Hoffman worked for investment giant Lehman Brothers until it collapsed in 2008 under the weight of its own high-risk investments – triggering the UK recession and pushing the world economy into freefall.
But six years on, Mr Hoffman is still pursuing the bankrupt firm for lost bonuses. Full story...
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