Barclays

Advisers at the Barclays Wealth & Investment Management division in the Americas will no longer get paid solely on how much money they bring in. Going forward, their compensation could be docked for misconduct…Barclays advisers will receive about half of their pay in the form of a monthly payment; the other half will be paid out every three months, according to people familiar with the new arrangement. While both payments will be based on a production formula similar to that at other firms, the quarterly payment also takes into account values-based criteria that include professional conduct and customer complaints. Poor performance in these areas could lead to a reduced payout. Mr. Lee said the new pay model was “well received.” But Andrew Parish, managing director at Axiom Consulting Group LLC, says he has fielded calls from at least 10 Barclays advisers in New York, Los Angeles and Chicago, among other places, since they learned of the new arrangement late last year. So far, none has decided to move elsewhere, he said. [WSJ]

On the heels of the good news that Barclays would be increasing the bonus pool this year, which came on the heels of the bad news that the bank posted a loss for the fourth quarter, comes the not great news that about one in ten of you will be asked to pack your things and leave by the end of 2014. For those of you trying to get a sense of your odds (of being cut), they increase significantly if you happen to be based in the UK. And if you think having the words “managing director” on your business card will save you, think again. Read more »

Unlike Antony Jenkins, the rest of Team Barclays will be accepting bonuses this year, thanks. Read more »

  • 28 Jan 2014 at 2:41 PM
  • Banks

Barclays May Have Better Ways To Spend £40 Million Per Year

Sure, it’s great to have your name attached to the world’s most popular sporting league. But in light of recent issues, not Bob Diamond & co. may just choose to lie low for a while. Read more »

  • 28 Jan 2014 at 12:57 PM

Layoffs Watch ’14: Barclays

If you’re a junior mistmaker at the bank, consider passing it on to your MD that he/she might want to gird his/her loins. Read more »

  • 17 Jan 2014 at 12:28 PM

Role-Based Pay Watch ’14: Goldman Sachs

Goldman Europe sees your bonus caps and raises you this: Read more »

With banks’ new labor-friendly rules, they may soon be gone. Read more »