Barclays risks investor ire with £1.5bn bonus pot

Barclays was accused of ignoring anger over bonuses and running “business as usual” as it revealed a £1.5bn (€1.8bn) pot for investment bankers yesterday.

A 32% cut to the bonus pool at Barclays Capital in 2011 was in line with a 32% fall in profits at the investment arm and did not signal the change required, major shareholder group the Association of British Insurers warned.

Providing more disclosure on bonuses in its annual results than before, the bank said the average bonus for staff at Barclays Capital was cut by 30% to £64,000 in 2011 while the group’s total bonus pool was down 25% at £2.2bn.