Barclays chief trousers £6.5m bonus

7th Mar 2011 12:46

Bob Diamond, chief executive of Barclays, has been awarded a £6.5m bonus for his work in 2010.The former head of investment banking arm Barclays Capital, who replaced John Varley on 1 January, will get £1.8m in shares plus £4.7m of deferred shares. That's on top of his £250,000 a year salary.A £2.25m long-term incentive award, which depends on future performance, takes the American's whole package for last year to £9m. Just two months ago, he talked to a Treasury Select Committee of bonus restraint."I'm committed as chief executive to acting responsibly, to showing any restraint I can," said the 59-year-old. "Bonuses are not taken lightly. We are sensitive. We're listening."At last month's results, Diamond said bonus payments had been influenced by Project Merlin, a deal with the government to lend £190bn to businesses this year in return for less interference in bank pay policy.Varley also had a good year, receiving £2.2m in bonus payments - twice his basic salary of £1.1m - plus an annual performance cash incentive of £550,000.