Hundreds of HSBC bankers enjoy 100 per cent salary increase

first_img whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was The Dream Girl In The 90s, This Is Her NowMoneyPailBlood Pressure Solution4 Worst Blood Pressure MedsBlood Pressure SolutionSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBlood Pressure For LifeWhy Doctors May No Longer Prescribe Blood Pressure MedsBlood Pressure For Lifemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comLiver Health1 Bite of This Melts Belly And Arm Fat (Take Before Bed)Liver HealthWolf & ShepherdNFL Star Rob Gronkowski Loves These ShoesWolf & ShepherdTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farm Share Hundreds of HSBC bankers enjoy 100 per cent salary increase Show Comments ▼ Tags: NULLcenter_img whatsapp Tuesday 16 November 2010 9:34 pm Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap SENIOR bankers at HSBC are to have their salaries doubled, as the bank attempts to head off a bonus row amid political pressure.The 100 per cent rise for hundreds of top bankers across HSBC’s global banking and markets (GBM) operations, including in the financial centres of London, Hong Kong and New York, will take immediate effect.The move comes as Treasury minister Mark Hoban urged banks to “think very carefully” about the upcoming round of bonuses, as the government seeks to quash extravagant City rewards during a period of public austerity.HSBC could use the move to avoid political tension and negative publicity over large bonuses, whilst simultaneously using the salary hike to placate bankers.The measures ensure the bank remains a competitive employer for top City workers, as many of its rivals, including RBS, have upped salaries over the past two years.The change also lifts pressure from the bank to provide top bankers with high bonuses. Senior staff have seen their personal cashflow squeezed, as annual bonuses have been deferred for several years, or have been paid in share options.The rebalancing of remuneration away from variable pay toward fixed salaries will also be welcomed by regulators, who have been urging banks to take a more sustainable approach to pay.HSBC had just two weeks ago complained about new bonus rules, which it said could force it to consider moving its London headquarters overseas.HSBC last night declined to comment. KCS-content last_img read more