Barclays Joins Bonus-Cutting Banks (BCS, DB, MS, CS, C, BAC)

Following a poor fourth-quarter earnings report, Britain’s Barclays plc (NYSE: BCS) will join other big banks like Deutsche Bank AG (NYSE: DB), Morgan Stanley (NYSE: MS), Credit Suisse AG (NYSE: CS), Citigroup Inc. (NYSE: C), and Bank of America Corp. (NYSE: BAC) in cutting bonuses for its investment banking group.

The bank set a limit on cash payments of ₤65,000 and cut salaries for its top management by 50%. At the same time, Barclays raised its dividend by 9%, taking some of the sting out of the poor quarter — at least for investors.