The Guardian reports that HSBC shareholders are said to be complaining about the lack of clarity in the bank's planned new-style executive compensation scheme.
According to the newspaper, John Thornton, who heads up HSBC's remuneration committee, has been sounding out institutional shareholders ahead of the bank's annual meeting in May, on their thoughts about a pay proposal that is designed to truly allign compensation with the long-term interests of shareholders - in that it will force execs to maintain their stock awards until they retire.
Worthy though the intentions of this scheme may be, however, there may still need to be some fine-tuning, as some investors are said to be 'confused about what the criteria the bank's remuneration committee would use to determine how many shares to hand over and how, as shareholders, they would be able to gauge whether the performance criteria has been achieved'.
In the meantime, Bloomberg reports that, courtesy of a US regulatory filing, we now know how much Wells Fargo CEO John Stumpf got paid for his work in 2010 - a cool $19m.
Stumpf's compensation includes $3.2m in salary, $11m in stock awards and $3.3m in non-equity incentive compensation. Investment banking boss Dave Hoyt received a total of $12.8m, while consumer and mortgage head Mark Oman got $9.7m.