Mar 08

• BarCap co-chief Jerry del Missier accrues £33m shares
• Bob Diamond awarded £6.5m bonus
• One banker received £10.9m in pay and bonuses
• Project Merlin means high-paid traders can stay anonymous


Barclays boss Bob Diamond Photograph: Stefan Wermuth/REUTERS

Barclays stoked the row over City pay on Monday by revealing that one of its key bankers – Jerry del Missier – received shares worth almost £33m earlier this month.

The bank reported that 231 of its key staff were paid a combined £554m in 2010 – an average of £2.4m each.

Bob Diamond, the chief executive, has been awarded a £6.5m bonus. But Diamond’s total pay structure is more complex than that, and what he takes home each year is based on performance in prior years. The remuneration report shows that he was also awarded £2.25m in a long-term incentive plan deal that could pay out in three years time and that £7m of shares were realised to him from deals going back to 2007, although the bank insisted these had been reported last year. A separate announcement showed that he also received £14m through cashing in share performance deals that were granted to him in previous years.

The announcement to the stock market showed that del Missier, co-chief executive of the Barclays Capital investment banking arm and a close lieutenant of Diamond, had shares worth almost £33m that were accrued from deals handed to him over the previous five years.

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