Barclays bosses forgo bonuses

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Two top executives at Barclays have elected to forgo their 2009 bonuses in a bid to strengthen their hand in influencing regulatory reform in the banking sector.

Chief executive John Varley and president Bob Diamond had have turned down bonuses for the second consecutive year.

Marcus Agius, the chairman of Barclays, said the board believed that bonuses for the two were "merited" on personal and company performance, but said: "Out of consideration of the continued impact of the economic downturn on many clients, customers and shareholders, combined with the fact that banks and bankers' pay remain matters of intense public interest and concern, both have advised the board that they wish to decline any such awards for the second successive year.

"The bond of trus...

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