Barclays staff may defer bonuses

London - Top staff at Barclays will defer payment of up to 100 percent of their bonuses for up to three years as they seek to respond to public anger about banking pay, the Financial Times reported Saturday.

The business daily said this would apply to members of the British bank's 11-member executive committee, led by chief executive John Varley, while the next 2 000 or so staff could defer upwards of 75 percent for three years.

Citing people familiar with the plan, which is expected to be signed off ahead of the banking group's full-year results next month, the FT said lower ranking staff would have about half their bonuses deferred.

This would do nothing to mitigate the bank's liability under the British government's new tax on bonuses, it added.

There is widespread public anger about the banking sector's bonus culture, which some observers blame for encouraging excessive risk-taking and helping to tip the world economy into recession.

However, Barclays managed to avoid the massive bailouts by the British government needed by rivals Royal Bank of Scotland and Lloyds Banking Group.

- AFP