Barclays removed EU bonus cap, allowing up to 10x fixed salary for 1,600 "material risk-takers".

Barclays has removed the EU-imposed cap on bankers' bonuses in the UK, now allowing employees to earn up to 10 times their fixed salary in variable pay. This change affects around 1,600 "material risk-takers" globally and offers greater flexibility in setting bonuses for these staff members. The UK's financial regulators removed bonus caps in October to boost the UK's financial sector competitiveness.