HSBC (HBC) bankers may be getting a share of a £1billion bonus pool in 2011, reported the United Kingdom daily The Sun on Feb. 1.
The Sun said HSBC's new chairman Douglas Flint revealed the scale of planned bonus payouts under pressure from parliament members.
Furthermore, salaries for HSBC bankers were raised by £95 million last year, the report said. Flint revealed that some bankers saw their salaries double, according to The Sun.The report said the chairman rejected notions that raises were implemented as a way to circumvent the disputes on big bonuses at bank. The daily noted that HSBC has never accepted any government bailouts. However, the bank has benefited from government support of the financial sector, the report said.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV