Barclays Joins Rivals in Scrapping Cap on Top Banker Bonuses.

Barclays Plc is following in the footsteps of Goldman Sachs Group Inc. and JPMorgan Chase & Co. by removing the EU-era limit on bonuses for some of its top bankers and traders. The change will allow these employees to earn bonuses up to 10 times their base salary, compared to the previous limit of two times their fixed pay. This move is part of a broader effort to make post-Brexit Britain more attractive as a financial center. However, the revised bonus cap will not affect how Barclays sets its incentive pool, which is based on overall group performance. [Extracted from the article]