Robert Talbut, chairman of the investment committee at the Association of British Insurers (ABI) said:
"ABI members have asked all UK listed banks for a shift in the balance between maintaining capital strength, delivering returns to shareholders and reward to employees.
"Whilst overall bonus levels at Barclays have been reduced, for Barclays Capital, this reduction is only in line with the fall in Profit before Tax.
"This appears to be very close to business as usual. It is not the signal of the change required in order to improve the investment case."