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Posted AT 1:00 PM EST on 08/11/08

London bankers' bonus binge is over

OLESYA DMITRACOVA

Reuters

LONDON — This year's anemic bonus round for London bankers marks a genuine end to an era of largesse as banks prepare to dismantle the pay structures blamed for helping bring about the global credit crisis. Last year, Bob Diamond, head of investment banking at Britain's Barclays, pocketed a £6.5-million ($12-million) cash bonus in addition to shares and £250,000 pounds in salary.

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