Barclays boss Antony Jenkins: 'We pay for performance'

Barclays has said it increased the total amount it paid on staff bonuses last year.

The bank's total bonus pool for 2013 rose by 10% to £2.38bn, from £2.17bn in 2012, with the investment bank's bonus pool increasing by 13%.

Barclays chief executive Antony Jenkins told BBC Radio 4's Today programme that the bank needs to "pay for performance" in order to compete in a competitive market for talent.

He added that Barclays had also made made "substantial progress" in transforming itself into what it calls a "go-to" bank, which is attractive and open to customers.

First broadcast on BBC Radio 4's Today programme on Tuesday 11 February.