Bank increases staff bonus pool by 12% despite hit from exposure to China real estate slump
Nice targets, but scepticism is hard to shake at BarclaysBusiness live – latest updates
HSBC has nearly doubled the pay packet for its chief executive, Noel Quinn, despite a drop in fourth quarter profits, which took unexpected hit from its exposure to China’s real estate downturn.
The London-headquartered lender disclosed on Wednesday that it had settled on a $10.6m (£8.4m) package for Quinn, marking a significant rise from the $5.6m he received for 2022, thanks to a long-term bonus in HSBC shares worth more than $5m.
Continue reading…Bank increases staff bonus pool by 12% despite hit from exposure to China real estate slumpNice targets, but scepticism is hard to shake at BarclaysBusiness live – latest updatesHSBC has nearly doubled the pay packet for its chief executive, Noel Quinn, despite a drop in fourth quarter profits, which took unexpected hit from its exposure to China’s real estate downturn.The London-headquartered lender disclosed on Wednesday that it had settled on a $10.6m (£8.4m) package for Quinn, marking a significant rise from the $5.6m he received for 2022, thanks to a long-term bonus in HSBC shares worth more than $5m. Continue reading…