Barclays will not overpay employees

Piggy Bank and Coins

The gravy train has long left the station.

The Telegraph reports that Barclays CEO Antony Jenkins has said that banker bonuses will always be 'controversial', but he insisted his bank would pay only 'for performance'.

He said excessive remuneration in banking would never be accepted by the public.

'It is very important when it comes to pay that, firstly, you only pay for performance, in other words you only pay the good people, and that you pay competitively', he told a group of sixth-form students, while guest editing BBC Radio 4's Today programme.

'In other words you don’t pay more than you have to', he added. 'It is always controversial the amount of money that is paid to certain sectors in banking'.

However, Jenkins defended pay in the industry, saying that large bonuses were the cost of running a major investment banking business.

Hit the link below to access the complete Telegraph article:

Barclays chief Antony Jenkins defends 'controversial' bank bonuses

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