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Barclays follows JPMorgan in loosening bonus cap

Online Editor

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Barclays is loosening the cap on bonuses for its dealmakers as UK banks begin to follow their Wall Street peers with pay overhauls.

The UK lender has followed in the footsteps of JPMorgan and Goldman Sachs by lifting how much City bankers can earn in performance-related pay after the legacy EU limit of twice fixed pay was ditched by the Conservative government last year.

Bank increases top bonuses to 10 times compensation

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