HSBC pays executives $2.7m in shares

HSBC granted 13 executives a total of $2.7m in shares for the third quarter, led by investment-banking chief Samir Assaf, as banks sidestep regulatory limits on bonuses.

Bloomberg News reports that separately, Royal Bank of Scotland paid 11 managers a similar total in share awards, though it took them two quarters to earn it.

Assaf received stock valued at $585,521.34, Chief Executive Officer Stuart Gulliver got $330,022,78 and Asia-Pacific CEO Peter Wong collected $539,095.19, according to a statement Tuesday from HSBC, Europe’s largest bank. The role-based pay awards follow a second-quarter payment totalling $2.88m in August.

At RBS, Britain’s largest taxpayer-owned lender, CEO Ross McEwan was given the most shares for the second half of 2015, worth a total of $401,362.12. In February, he had said he would give the award to charity. 

To access the complete Bloomberg News article hit the link below:

HSBC's Assaf Leads Bank's $2.7 Million in Executive Stock Awards

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