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Top pay soars at HSBC and Barclays after scrapping of UK bonus cap
The Guardian
|March 03, 2025
The demise of the UK banker bonus cap has sent pay soaring at Barclays and HSBC, where the highest-paid bankers have received their biggest payouts since at least 2014.
Analysis of pay documents released this month shows payouts for their most expensive staff surged more than 50% to nearly €20m (£16.5m) last year, after the banks took advantage of looser pay rules and allowed staff to be paid bonuses worth 10 times their salary.
It meant that one HSBC banker was paid between €19m and €20m in 2024, according to HSBC's annual pay tables for "material risk takers". That is much higher than a year earlier, when one HSBC employee topped out at €12m-€13m. In contrast, HSBC's chief executive, Georges Elhedery, was paid £5.4m last year, having taken over in September 2024.
Esta historia es de la edición March 03, 2025 de The Guardian.
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