Barclays Chief Defends High Salaries For U.K. Foreign Exchange Traders

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High salaries and bonuses paid to foreign exchange dealers at Barclays Bank’s Barclays de Zoete Wedd (BZW) subsidiary, where money markets and forex trading are concentrated, have been publicly defended by Barclays’ chairman and chief executive Andrew Buxton.

Speaking at the International Monetary Conference in Stockholm last week, a gathering of leading commercial and central bankers, Buxton admitted that the disparity in rewards for different parts of the group could threaten co-operation b