Robert Edward Diamond, Jr. - Group Chief Executive, Barclays PLC
The chief executive of a major British bank is set to receive a bonus of around £2.5 million ($3.9 million) for his work in 2011, it has been reported.
According to the Daily Telegraph, Barclays will announce this week its decision to distribute a bonus pool totalling £1.5 billion to members of staff within its investment banking division after making a profit of £6 billion last year.
And this is set to include a sum of £2.5 million for chief executive Bob Diamond - an award that would take his overall remuneration package for the year to around £11 million.
Last week, leader of the opposition Ed Miliband called on banks to overhaul the current system of excessive bonuses after Stephen Hester - chief executive of the Royal Bank of Scotland - decided to waive his additional pay.
However, Barclays' expected announcement regarding Mr Diamond's bonus is likely to anger Mr Miliband and other campaigners for change in the sector.
By Tony Aynsley
