Barclays Scraps Eu Bonus Cap For Senior Bankers

Barclays Revokes Bonus Cap for Top Bankers

Scrapping of EU-Imposed Limit

Barclays Leads British Banks in Lifting Bonus Restrictions

Barclays, a prominent banking institution, has joined the ranks of financial giants by substantially raising the bonus ceiling for its top-performing bankers. According to an internal memorandum obtained by Reuters, the bank has become the inaugural British financial establishment to notify its personnel of the elimination of the bonus cap previously imposed by the European Union (EU).

This move by Barclays signifies a pivotal step toward the reshaping of its compensation structure. It abolishes the constraints established by the EU following the United Kingdom's withdrawal from the union, colloquially known as Brexit. This decision aligns with the bank's long-held aspiration to reward its most valuable employees and attract and retain top-tier talent.