Stat of the day: £10m

The size of the bonus that Barclays boss Bob Diamond is pipped to take home this month. Well, that's one person who won't be suffering from the January blues...

by Rebecca Burn-Callander
Last Updated: 09 Oct 2013
Financial augurs have been rooting through avian small intestines and examining duodenums to forecast the size of Bob Diamond's pay packet. The Barclay's boss, once dubbed the 'unacceptable face of banking' by Lord Mandelson, is on a £1.3m annual salary, but could see his take-home pay increase tenfold as a result of a whopping end-of-year bonus.

Diamond is entitled to an annual cash-and-share pay-out of as much as 250% of his wage. He could also receive a share-based award equivalent to five times his base pay. The actual bonus figure will be released next month in Barclays' annual report.

The news comes in the wake of Lloyds chief Antonio Horta Osorio's decision to reject his bonus last week. The newly-returned chief executive turned down his £2.4m pay-out, claiming that it wasn't fair on the British public, who were feeling the impact of austerity cuts. He also said, 'I believe my bonus entitlement should reflect the performance of the group,' echoing the Prime Minister's calls for an end to inflated bonuses.

Barclays has seen profits take a tumble over the past year. The first six months of 2011 saw a 33% drop in earnings, while the second half saw only a very small 5% profit increase on the same period last year. However. it seems highly unlikely that the millionaire banking boss will follow Antonio's suit. Given Diamond's famous statement last year that the time for 'remorse and apology' from bankers was over, he'll spurn the moral high ground in favour of a Diamond January.

Find this article useful?

Get more great articles like this in your inbox every lunchtime