LONDON – Barclays
is planning to defer bonuses for its highest-paid executives in hopes
of quashing public outrage regarding pay for bankers, Britain's Financial Times reported Saturday.
move comes amid a backlash in the U.S. against banks who continue to
pay whopping bonuses to top executives after being bailed out by
Bank shares have plunged because of President Barack Obama
plan to limit their size and risky trading and his proposal of a
special tax to recover bailout funds. He also has branded the latest
round of bank bonuses as "obscene."
Top executives at Barclay's will defer up to 100 percent
of their bonuses for up to three years, the Financial Times reported.
Some 2,000 or so staff will have as much as 75 percent of their payouts
deferred, while lower ranking staff would have as much as 50 percent
deferred, the newspaper said.
The measures are due to be signed off on before Barclays full year results next month.
The bank declined to comment on the report.