Barclays is planning to reduce dealmakers’ incentives by much to 40 percent this year, following Wall Street peers in reducing compensation for investment bankers in response to a decline in fees.
According to chats with senior bankers, the British financial institution intends to lower senior dealmakers’ bonuses by 30 to 40 percent, depending on business line and region.
According to sources familiar with the situation, Barclays will distribute bonuses to employees on February 15, shortly after announcing its fourth quarter and annual results.
However, a source familiar with the situation stated that no final decisions regarding bonus payments for 2022 had been made.
The decline is comparable to that of its Wall Street peers, who have reduced compensation for investment bankers and favoured higher-performing employees on the trading floor.
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