The demise of the UK banker bonus cap has sent pay soaring at Barclays and HSBC where the highest-paid bankers have received their biggest payouts since at least 2014.
Analysis of pay documents released this month shows payouts for their most expensive staff surged more than 50% to nearly €20m (£16.6m) last year, after the banks took advantage of looser pay rules and allowed staff to be paid bonuses worth 10 times their salary.
