Business World

Wednesday 21 March 2018

HSBC hands CEO Gulliver £7.4m 2012 pay package

HSBC handed a £7.4m (€8.6m) pay package to Chief Executive Stuart Gulliver for 2012, the bank said in its annual report.

Europe's biggest bank said its five best-paid employees earned a total of £27.8m pounds in 2012, including £21.5m in bonuses.

Its highest paid banker who is not a director was paid £7m pounds.

Gulliver's package comprised a base salary of £1.25m, benefits worth £1.2m, an annual bonus of £1.95m and shares awarded under a long-term incentive plan worth £3m pounds. It was lower than the £8m pounds total package he received in 2011.

Speaking to reporters, Gulliver said it was too early for the bank to take a view on proposals by European regulators to place a cap on the bonuses that can be paid by banks.

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