Diamond - President of Barclays plc, CEO of Barclays Capital, and a member of its Board of Management – is on a basic salary of only £384,000 a year. However, he has been awarded a performance-related package worth around £20 million.
He also receives well over £8 million in shares form an incentive package introduced last year. Nearly another £8 million rolls in from a previous incentive package.
Just in case he needed a few quid for a rainy day, last year he sold his shares in Barclays Global Investors. This brought in just under £27 million.
Whilst you’re still picking your jaw off of the ground, spare a thought for a colleague of Mr. Diamond.
Poor old John Varley is the Group Chief Executive of Barclay’s Bank. Whilst he’s on a higher basic salary – a mere £1.1 million a year – his pension is only worth £17 million. How will he cope?
We’re not too sure what Diamond and Varley do to justify such pay outs, but it sure beats piece work down at the local factory!
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