Thomson ReutersFebruary 7, 2013 15:00
LONDON, Feb 7 (Reuters) - About 1,200 top investment bankers at Barclays will not receive any upfront cash as the bank will defer awards over three years, a person familiar with the matter said.
Managing directors will get one-third of their 2012 bonus next year, a third in 2015 and a third the year after. Half the payout will be in cash and half will be in shares, the source said.
Bankers below managing director level getting a bonus of up to 65,000 pounds ($102,100) will get all of their bonus in cash straight away.