banks ' Chairman , John banks , has attacked the banking bonus culture , stating that it encourages people to " cut corners ' , adding that his policies may cause alarm amongst his staff . He added that bonuses were " a model that was imported from the US and seems to resemble those ( US ) institutions " . He argued that Barclays should not be able to " act alone " in tackling the bonus culture for fear of losing its best employees and called for " some sort of industry - wide solution " .
Barclays' Chairman, John McFarlane, has attacked the banking bonus culture, stating that it encourages people to "cut corners', adding that his comments may cause alarm amongst his staff. He added that bonuses were "a model that was imported from the US and seems to suit those (US) institutions". He believes that Barclays would not be able to "act alone" in tackling the bonus culture for fear of losing its best employees and called for "some sort of industry-wide solution".