Diamond 'reluctant' to act over pay

Former Barclays boss Bob Diamond was "reluctant" to accept pay at the bank was too high and the board ignored recommendations to withhold his bonus for 2011, MPs have heard.

Alison Carnwath, previous head of remuneration at the bank, told the Parliamentary Commission on Banking Standards she believed Mr Diamond should have received no bonus at all for 2011 after a year of poor performance and mounting anger over banker pay.
%VIRTUAL-SkimlinksPromo%