There will be no bonuses tendered this year, except those in company stock, according to the Wall Street Journal. This comes as an order from the incoming chairman Win Bischoff.
Sir Win is to receive an annual salary of £700,000 and his task is to help the bank reduce its reliance on the U.K. government, its 43.5% shareholder, and help integrate HBOS PLC, the "troubled bank it agreed to merge with at the height of the financial crisis last year."
According to MySalary.co, The average salary for a UK Investment Banker is around £60,000.
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