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HSBC Canary Wharf corner

Most HSBC managers won't get pay rises in 2016

The majority of managers at HSBC’s UK retail and wealth group will not receive a pay rise this year, a spokesman for HSBC confirmed this evening, despite the bank U-turning on a policy to enact a pay freeze.

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UBS activist sold stake in bank

Knight Vinke Asset Management sold its stock in UBS as the activist fund, led by Eric Knight, said it remained concerned about the size of the Swiss company’s investment banking arm.