By Simon Miller
Barclays' Bob Diamond received a £6.3m pay packet last year despite an "unacceptable" year for the bank.
As focus turns once again to bank bonuses, Barclays cut his pay from £9m in 2011 and froze his pay for this year after the bank missed its target. Diamond was awarded a £2.7m stock bonus and a future performance-linked bonus of £2.25m and his base salary remained at £1.35m.
However, Diamond is not the highest paid director at Barclays with two unidentified bankers receiving £6.7m and £6.5m respectively.
The pay awards were revealed in a statement from the bank and folllows an announcement last month that it may fail to hit the 13% target for return-on- equity by 2013 after it fell to what Diamond said was an “unacceptable” 6.6% in 2011.