Barclays’ Diamond to earn £4m bonus

The Chief Executive of Barclays Bank could receive a £4 million payout, which could reignite anger over bankers’ bonuses.

Bob Diamond, who has so far refused to comment about what he will pocket for 2011, could receive more than £10 million, including his £1.3 million salary, bonus of up to £3.4 million and long-term incentives.

According to The Sunday Times, Diamond might not receive the full amount although the group’s annual report which is due out on Friday could reveal a total payout of at least £3 million to £4 million.

The bank was last week accused by HMRC of trying to avoid paying more than £500 million in tax, in schemes described as “highly abusive” avoidances.

The annual report will also give details of the pay of at least five senior executives at the bank.

Recent anger at levels of pay-outs in the City has seen other banks such as Royal Bank of Scotland chief Stephen Hester turn down his £963,000 bonus and Lloyds boss Antonio Horta-Osorio waive his payout following a leave of absence.

Barclays and other banks have maintained that they need to pay competitive salaries to attract and retain the best staff