Barclays Boss Sees Pay Package Cut To £6.3m

Barclays bank has slashed the salaries and bonuses of its top five executives by an average of 48%, with chief executive Bob Diamond's total package cut from £9m to £6.3m.
Mr Diamond's pay for 2011 is made up of a £1.35m salary, £2.7m worth of shares paid in three instalments over the next three years, and a performance related long-term incentive worth £2.25m payable after three years.

Barclays, which did not receive any taxpayer funding during the 2008 financial crisis, will pay its top eight executives £37.2m in salaries and bonuses for last year.

The two highest paid members of staff at the bank got total packages worth £6.7m and £6.5m respectively.

Their names have been withheld but it has been reported that, in 2010, Barclays' two highest paid staff were Jerry del Missier and Rich Ricci who jointly run its investment banking division Barclays Capital and were paid £14.2m and £14m respectively.