428 Barclays staff earn over £1m

Barclays paid 428 bankers more than £1 million in 2012, a torrid year for the British bank after its fine for rigging Libor interest rates.

The number of staff paid more than £1 million was down from 473 in 2011, according to new disclosures in its annual report released today.

Barclays said five staff received pay of more than £5 million last year, down from 17 people in 2011.

A further 50 were paid between £2.5 million and £5 million in 2012, and 373 staff were paid between £1 million and £2.5 million.

The pay included salary, bonus and the value of long-term share awards.

Chief executive Antony Jenkins was paid £2.6 million, including £1.8 million for his time as chief executive from August 30th.

He said last month he would forgo his bonus after the bank's tough year, when it was fined $450 million for rigging Libor interest rates, prompting former chief executive Bob Diamond and its chairman to quit.

Mr Jenkins had previously been the head of retail and business banking.

The bank revealed the pay bands for all its 145,000 staff, following through on a promise by new chairman David Walker to provide greater transparency on pay.

The new management team has pledged to address cultural problems at Barclays after criticism it was too aggressive and took too much risk in the past, but has admitted rebuilding the bank and its reputation could take five to 10 years.

Reuters