Barclays president due for £4.7m payout

Barclays bank president Bob Diamond was in line for a payout of up to £4.7m (€5.2m) today after the bank sold part of its fund management business to bolster its finances.

The $4.4 bn (€3.3bn) sale of the iShares operation will trigger windfalls for Mr Diamond and a host of other directors with stakes in the firm.