Barclay's CEO Robert Diamond To Exercise Restraint On Compensation

Barclays CEO Robert Diamond said that he would "exercise restraint" on compensation, though didn't state whether or not he would forgo a bonus this year. The decision on compensation is up to the remuneration committee . Diamond said, “I'm committed as chief executive to acting responsibly, to showing any restraint I can." He adds, "Bonuses are not taken lightly." According to a recent Bloomberg

Barclays filings show that Diamond was eligible to receive more than 110 million pounds ($170 million) between 2005 and 2011 in salary, bonuses and share sale proceeds even after refusing to accept bonuses in 2008 and 2009. British legislators are examining pay awards in the wake of the financial crisis as the government makes cuts in public spending that may lead to more than 300,000 job losses.