LONDON (Reuters) - Barclays has agreed to pay Frits Seegers, the former head of its retail and commercial banking arm, 161,150 pounds per month until the end of the year even though he left the bank last November.
Seegers, who left after a restructuring and management shake-up, is entitled under his contract to a monthly payment of 161,150 pounds until the end of 2010, or until he takes up another job, Barclays disclosed Friday in its annual report.
Seegers, a Dutchman married to Kartika Sukarno, the daughter of the late President Sukarno of Indonesia, joined the bank in 2006, when Barclays paid 12 million pounds to compensate him for lost share awards from previous employer Citigroup.
His total pay and benefits package last year was 2.38 million pounds, including a 700,000 pound salary and a deferred share award of 933,000 pounds.
Barclays also said Bob Diamond, the head of its Barclays Capital investment banking arm, received an unchanged salary of 250,000 pounds in 2009 after giving up his bonus for a second successive year.
He was paid over 21 million pounds in 2007, making him one of Europe's top paid bankers.
Diamond did land a 26.8 million pound windfall last year from the sale of shares in asset management unit Barclays Global Investors, under a plan dating back to 2003.
The value of Diamond's Barclays shareholding jumped to 40 million pounds last year after falling to 23.5 million pounds in 2008 because of a slump in the bank's share price.
Barclays' profits almost doubled to 11.6 billion pounds last year, making it one of the most profitable banks in the world.
It avoided taking a state bailout during the crisis and benefited from its purchase of the U.S. operations of bankrupt investment bank Lehman Brothers.
(Reporting by Myles Neligan and Steve Slater; Editing by Hans Peters)
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