Barclays shareholders voice dismay

27 April 2011

Barclays shareholders have voiced their dismay with regards to banker pay.

At the lender's annual meeting, its executives had to face angry questioned from people who are concerned about a pay report that included a £6.5 million ($10.7 million) bonus in 2010 for chief executive of the group Bob Diamond, the Wall Street Journal reports.

Shareholders voted 9.66 per cent against the pay deal, while concerns were also raised with regards to the bank's long-term incentive plans for executives.

Trevor White, a private shareholder, told the gathering that he feels he has not been treated fairly, adding: "The shares have plummeted, the dividend is 20 per cent of what it had been, while the high earners are back to where they were."

The House of Commons Public Accounts Committee recently claimed it is inappropriate for banks in the UK to be giving out considerable staff bonuses at the same time as they rely on taxpayer money.

By Tony Aynsley

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