Barclays to reveal that it employs more than 600 millionaires
James Moore is the Independent's Associate Business Editor and writes the Outlook City comment column from Tuesday to Friday. He also has a keen interest in disability issues and when not attempting to further injure himself playing wheelchair basketball.
Tuesday 26 February 2013
They are Barclays' fortunate few –the 600 millionaires at the very top of its pay scales.
Next week, the bank will – for the first time – put an exact figure on the number of staff who enjoy seven-figure salaries made up of basic pay, an annual bonus and shares issued through long-term incentive plans. It is understood that this number will be "around" 600 with most of them believed to work for Barclays Investment Bank, which is currently run by the flamboyant racehorse owner Rich Ricci, who will be among their number.
The bank is also preparing to publish a detailed breakdown of its pay scales, from the lowliest teller to the highest-paid deal-makers. It means that Barclays will go beyond even the recommendations made by its new chairman, Sir David Walker, when he produced a report into the way banks are governed for the last Government some time before he joined Barclays.
In it, he called for banks to disclose the numbers of people earning between £1m and £2.5m and from £2.5m to £5m as well as all those above £5m. But he did not require names to be published.
- 1 The difference between a migrant and refugee, in one sentence
- 2 Miley Cyrus calls out hypocrisy of women’s nipples being taboo
- 3 Celebrity Big Brother 2015: Tila Tequila kicked off show after 'describing Hitler as a good man'
- 4 iPhone 5c to be discontinued, no iPhone 6c to replace it
- 5 Blood Moon and Supermoon: September to bring brightest – and dimmest – full Moon of the year on same night
The difference between a migrant and refugee, in one sentence
Spain accused of 'provocation' after letting Russian submarine refuel off Gibraltar
Allonautilus scrobiculatus: World's 'rarest' creature spotted for only the third time ever
Miley Cyrus calls out hypocrisy of women’s nipples being taboo
Celebrity Big Brother 2015: Tila Tequila kicked off show after 'describing Hitler as a good man'
Climate change: 2015 will be the hottest year on record 'by a mile', experts say
Labour leadership: Jeremy Corbyn accused of 'deluding' young supporters with 'claptrap'
'Women only' train carriages: Jeremy Corbyn unveils radical move to tackle public harassment
Black holes are a passage to another universe, says Stephen Hawking
Iain Duncan Smith 'should resign over disability benefit death figures', says Jeremy Corbyn
Iain Duncan Smith calls for urgent ESA overhaul as part of drive to cut down welfare costs
iJobs Money & Business
£25000 - £30000 per annum: Recruitment Genius: From modest beginnings the comp...
£35000 - £40000 per annum: Recruitment Genius: From modest beginnings the comp...
£15000 - £65000 per annum: Recruitment Genius: This is an exciting opportunity...
£18000 - £20000 per annum: Recruitment Genius: This is a fantastic opportunity...