UK bank Barclays announced it will boost bonuses and reduce fixed salaries for its senior bankers, aligning its pay model more closely with Wall Street practices. This shift follows the UK's removal of the bonus cap. In the first half of the year, performance pay at Barclays rose by nearly 30% to £1.3 billion, while salaries increased by less than 1%. The bank anticipates an additional £100 million to £150 million in compensation costs in the second half as it expands this bonus-heavy pay structure.