HSBC’s top executives are under pressure from shareholders, politicians and business leaders to waive some of their multimillion-pound bonuses, in response to recent allegations that the bank helped clients dodge taxes.
The Financial Times reports that Stuart Gulliver, chief executive of HSBC, is expected to be paid about £7.5m for last year, a slight decrease from the £8m he received in 2013.
But one top-20 shareholder in HSBC said: 'Our view on the banks is that they must show restraint. HSBC has been in the headlines for the wrong reasons and any signs of cosy arrangements over bonuses will be very damaging'.
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