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Barclays Pays Nearly 500 Bankers More Than 1 Million Pounds

Barclays paid almost 500 staff more than 1 million pounds last year, prompting criticism that pay is still too high and that banks have not changed their ways since the financial crisis. Barclays and Lloyds Banking Group also revealed in their annual reports that their chief executives could each earn more than 7 million pounds this year and that both banks were seeking approval from shareholders to pay some staff bonuses of double their fixed pay. Bonuses have been blamed for contributing to excessive risk-taking that led to the 2008 crisis and the European Union has taken steps to cap them.

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