Barclays (BCS) Chief Financial Officer Anna Cross said Tuesday it is shifting its compensation model toward a Wall Street-style structure by increasing performance-based pay while reducing fixed salaries for senior bankers, according to Bloomberg.
The bank's performance-related compensation rose nearly 30% year over year to 1.3 billion British pounds ($1.7 billion) in H1 2026, while salaries increased by less than 1%.
Cross said, as per the report, that compensation costs are expected to rise by another 100 million British pounds to 150 million British pounds in H2 as the changes are implemented, following the UK's relaxation of banker bonus rules.
Barclays did not immediately respond to MT Newswires' request for comment.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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