Good news for some.
Bloomberg News reports that Barclays will boost fixed pay for some employees next year in advance of European Union rules that will cap bonuses.
Britain’s second-largest bank will introduce what it calls 'role-based pay', according to a person familiar with the plan. The new payments to certain bankers, traders and salespeople of the London-based firm will come on top of their base salaries and variable bonuses, said the person, who asked not to be named because it’s a personnel matter.
'This outcome has been reached following consultation with our regulator and major shareholders', it added.