Report - HSBC to report 'modest increase' in bonus pool

HSBC Canary Wharf

HSBC will join the ranks of British banks awarding significant bonuses for 2013 when it unveils a discretionary pay pool of more than £2bn for its staff around the world on Monday.

Sky News has learnt that HSBC will announce the bonus pot of just under $4bn alongside full-year results that are expected to include a significant rise in pre-tax profits.

The bonuses will represent a modest increase on the $3.689bn (£2.2bn) awarded in 2012, although one source said on Friday that the rise in variable pay across the bank would be smaller than the likely increase in earnings.

The move to lower the overall group payout ratio from 17% last year to in the region of 15% this time had been led by Sir Simon Robertson, the deputy chairman of HSBC, who chairs the bank's remuneration committee.

Hit the link below to access the complete Sky News article:

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image: © Barry Caruth

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