In the spirit of goodwill the acting Barclays chairman Marcus Agius, has announced that Bob Diamond has voluntarily waived his share awards worth up to £20m. Speaking at a parliamentary select committee inquiry, Mr Agius explained to the MP Pat McFadden the terms of Bob Diamond's bonus.
The inquiry instigated by MP's and shareholders following the price fixing scandal, then asked Mr Agius a number of pointed questions about Bob Diamond and how this could happen under his chairmanship.
However whilst cutting the size of the payoff, is expected to appease shareholders, who had been calling on the bank to pay Mr Diamond the minimum possible under the terms of his contract. It is, however, unlikely to satisfy some senior politicians who had been calling on Barclays to cancel any payout to its former chief executive following the Libor-rigging scandal which has cost Mr Diamond, Mr Agius and Jerry del Missier, the chief operating officer, their jobs.
Written and Presented by Ann Salter