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.
August 08, 2024
7 Articles