Monday, 27 February 2012

Top HSBC pay packet

So what does the chief executive of HSBC, Stuart Gulliver, get paid?

For 2011 it breaks down like this:

£1.25m basic pay

£2.16m annual bonus - in shares

£3.75m long term incentive plan - in shares

Total: £7.16m

He has taken a hit for PPI mis-selling and the mis-selling of investments to elderly people by a subsidiary, NHFA. The total is £1.3m lower than it would have been otherwise.

He can't sell the long term incentive shares until he retires - and they can be clawed back over the next 5 years  if performance turns out to have been worse.

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