Earlier too John Varley previous employer of Barclays was paid significantly less than Diamond when the second option going up Barclays’ investment banking procedure, Barclays Capital. An additional benefit of the 2.7million, 1.35million salaries and long-term bonuses of 2.2million was contained in his total pay. At a time when the bank’s earnings fell 3% and amid carrying on criticism of bankers’ pay, Barclays bank or investment company boss Bob Diamond received 17m in pay, stocks, and perks this past year. In three years’ time, based on the performance of the lender also paid 5.7m to hide Diamond’s goverment tax bill and he was awarded another 2.25m in shares which will spend.
In 2011, after Barclays reported a 3% fall in profits to 5.9billion the bonus prize was 80% of the possible maximum. The payment protection insurance (PPI) scandals also affected his honor. On Friday the bank’s annual statement and accounts exposed the facts of Diamond’s payout. It demonstrated that 238 of the bank’s mature personnel were typically paid 1.2m. On top of his 1.35m salary, Diamond received a 2.7m talk about bonus. He received perks worth 474 also, 000 – which usuallycovers expenses like chauffeurs, security and the cost of personal financial advice.
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Another 3.7m was released from a share scheme dating back to 2006 – that was delayed after the banking turmoil – 1m from a 2008 scheme and 7.8m from a separate executive share award system. Need quick money apply with instant loans for bad credit and get fast money and settle all your financial problem. Diamond’s reward of 2.7million was not affected by the HMRC’s tax avoidance statements, which Barclays said will be taken into consideration for his payout in 2012, and you will be paid in stocks not cash.
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