Barclays spent 20% more on buying out the bonuses of senior bankers it hired from rivals in 2018, a year when the UK lender swelled the ranks of its investment bank in the face of activist pressure.

The UK bank spent £38m on buyout awards for people joining Barclays International last year; payments reserved for senior bankers who have deferred bonuses tied up in cash and stock that they forfeit when joining a rival.