Backlash: Last year Coutts dumped former Brexit Party and UK leader Nigel Farage (pictured)
Barclays’ falling profits have reduced the value of its bonus fund by £55m, it was revealed yesterday.
Bankers handed out £1.75bn by 2023, 2.5 per cent less than the previous year.
Barclays said this reflected “lower year-on-year financial results in some areas of the business” amid a drop in revenue from its global markets division and a drop in investment banking fees.
Chief executive CS Venkatakrishnan was among those who lost, with his overall pay package down 11% to £4.6m.
Venkat, 58, saw his basic salary increase by 3.3 per cent to £2.9m. However, her annual bonus was half a million pounds less.
Meanwhile, the number of employees in the highest salary bracket – those earning more than €1m (£855,000) – fell from 698 to 668.