LONDON, Feb 7 (Reuters) - Barclays will impose acap of 140,000 pounds ($228,600) on cash bonuses for itsinvestment bankers for 2013, a lower limit than last year, aperson familiar with the matter said on Friday.
Barclays has capped upfront cash bonuses for investment bankstaff for the last three years, and the limit for 2013 is belowthe 185,000 pounds allowed last year, the source said.
Barclays declined to comment.
Sky News, which first reported the cap, said Barclays willpay between 2.3 billion pounds and 2.4 billion pounds inincentive awards for 2013, which would be up to 11 percenthigher than 2012.
Other banks have also set limits on upfront cash awards and Deutsche Bank had capped cash bonuses at 300,000euros for the last two years, sources said.
Barclays' cap will not affect managing directors in the investment bank, who already have to fully defer their bonuses.
Barclays' investment bankers were awarded bonuses of 1.3billion pounds last year, which was broadly evenly split betweencash upfront, deferred cash and deferred shares awards.