The bank – working to rebuild its reputation after the exit of chief executive
Bob Diamond and chairman Marcus Agius following the Libor
scandal – will undertake the drastic measure after a series of
reviews into the future of its investment banking arm.
The Sunday Telegraph understands that investment bankers who earn a
base salary of between £500,000 and £3m will see their salaries cut by
between 30pc and 40pc.
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