It's as if the OWS, or Occupy Wall Street, movement has formed coalitions with shareholders of banks - both large and small.  After Thursday's rally in San Francisco against Well Fargo, the scene shifted on Friday to London, where management of Barclays found itself confronted by a loud and hostile pack of disgruntled shareholders. Gathering at the Royal Festival Hall in London, a venue usually reserved for music concerts, CEO Robert Diamond Jr. and the rest of Barclays’ board answered questions from disgruntled shareholders about why the bank paid million-dollar bonuses to its senior executives while earnings and the share price fell. The atmosphere at the meeting was hostile from the start and speeches were repeatedly interrupted by hecklers.  Robert Diamond, the chief executive, was booed as soon as he stepped on the stage to take his seat, and when Chairman Marcus Agius said Barclays had "made progress" over the last 2 years in accepting that "remuneration levels across the industry have to adjust to the new reality," the audience responded with derisive laughter. Mr. Agius then tried to defend Mr. Diamond's £6.3 million ($10 million) pay for 2011, saying he met almost all his targets in a difficult market environment.  Alison Carnwath, who is chairwoman of the remuneration committee on the board, also defended the pay decisions but acknowledged that it was “clear that this view is not shared by all shareholders.” When Ms. Carnwath said that the "committee is under no illusions that the balance of rewards between shareholders and employees has to change in favor of shareholders," a heckler from the audience shouted: "Why have you only just woken up to this?" All told, nearly 27% of Barclays shareholders voted against the remuneration report at the annual general meeting.  While this vote, like those taken at other bank meetings, are non-binding and do not require the board to act, it nonetheless is a sign that opposition is growing steadily against the practice of rewarding bank management with "obscenely large" compensation packages. However, unlike Citigroup, where the Board took no action after shareholders voted down the pay packages by a margin of 55% to 45% - a clear majority - Barclays tried to appease at least its large institutional investors before the shareholder meeting by making some changes to the remuneration packages announced last week.  Mr. Diamond and CFO Chris Lucas would now lose half of their 2011 deferred stock bonus if the bank missed a profitability target over the next 3 years. For further details, go to:  [Dealbook, 4/27/12].