The Financial Times reports that institutional investors are preparing to do battle with Barclays over banker bonuses.
Although the firm has long held the view that it should be free to pay what it considers to be market competitive bonuses (especially to staff at investment banking arm Barclays Capital), the newspaper says that some of Barclays' largest shareholders have been urging the bank's board 'to end its lavish bonus culture'.
One institutional shareholder told the FT: 'If the bank doesn't exercise real restraint, then it faces a shareholder rebellion'.
Finally, Dow Jones Newswires reports that Barclays has denied press reports last week that the bonus pot over at Barclays Capital will be 30% down from last year. A spokesperson for the bank said that 'we have made no decision on bonuses yet'.
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