Chairman of the Financial Services Club Chris Skinner
Media playback is unsupported on your device
Video

Barclays' 428 millionaires 'no surprise'

The 428 employees at Barclays earning more than £1m is "no surprise" to banking analyst and chairman of the Financial Services Club Chris Skinner.

Mr Skinner told BBC News that the bank had a large investment division and if it wanted to retain the best people, global market conditions dictated paying them high salaries.

It is the first time the bank has published details of its pay, following a pledge to improve transparency

Go to next video: Barclays announces 3,700 job cuts