HSBC paid one of its bankers more than £13,7-million ($19-million) last year, while another unnamed member of staff received more than £11-million, the bank’s annual report showed on Monday.
The payouts were well above the £1,67-million received by chief executive Mike Geoghegan and the £1,26-million paid out to chairman Stephen Green. Both Geoghegan and Green took home less than half of what they received a year earlier.
HSBC said on Monday that none of its executives would receive a bonus for 2008, despite the fact that, unlike many global banks, it made a profit last year.
Profits were, however, less than half what they had been a year earlier and the bank said it would be seeking an $18-billion cash injection from investors.
Beyond the boardroom, the bank’s annual report showed one employee was paid between £13,7-million and £13,8-million in 2008, while the second highest received £11-million to £11,1-million, and a third took home between £3,2-million and £3,3-million.
HSBC discloses not only the remuneration of individual directors in its annual report, but, unlike most rivals, also reports the amount of money paid to its top five earners outside the boardroom, although they are not named.
At least two more members of staff received more than Geoghegan, one drawing pay of more than £2,8-million and a fifth receiving more than £2,6-million. — Reuters