The culture of lavish bonuses for bankers is back in full swing, after Barclays and Lloyds revealed that 500 staff pocketed more than £1million last year.
Critics accused the banks of a ‘disgraceful act of greed and betrayal’ and urged Chancellor George Osborne to intervene.
The revelations came as both High Street lenders published their annual reports.
State-backed Lloyds confirmed its boss Antonio Horta-Osorio received £4.5million in pay and perks last year, while Barclays revealed it has lined up 1,000 senior staff for ‘role-based’ allowances to avoid a bonus cap from Brussels.
Other details include:
Barclays paid 481 staff more than £1million each, with eight employees making more than £5million
Both Lloyds and Barclays bosses got £1million ‘allowances’ to get round bonus caps
The two banks will ask investors for permission to pay bonuses worth twice salary
Pay-outs at Barclays came despite the bank admitting it is embroiled in 12 separate misconduct investigations.
Banks have repeatedly vowed to show restraint on pay. Just last month Barclays chief Antony Jenkins promised his bank unders tood public outrage, saying: ‘There will be no going back to the old way of doing things. We get it.’ Full story...
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Critics accused the banks of a ‘disgraceful act of greed and betrayal’ and urged Chancellor George Osborne to intervene.
The revelations came as both High Street lenders published their annual reports.
State-backed Lloyds confirmed its boss Antonio Horta-Osorio received £4.5million in pay and perks last year, while Barclays revealed it has lined up 1,000 senior staff for ‘role-based’ allowances to avoid a bonus cap from Brussels.
Other details include:
Barclays paid 481 staff more than £1million each, with eight employees making more than £5million
Both Lloyds and Barclays bosses got £1million ‘allowances’ to get round bonus caps
The two banks will ask investors for permission to pay bonuses worth twice salary
Pay-outs at Barclays came despite the bank admitting it is embroiled in 12 separate misconduct investigations.
Banks have repeatedly vowed to show restraint on pay. Just last month Barclays chief Antony Jenkins promised his bank unders tood public outrage, saying: ‘There will be no going back to the old way of doing things. We get it.’ Full story...
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