7 months ago
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Bank increases staff bonus pool by 12% despite hit from exposure to China real estate slump
HSBC has nearly doubled the pay packet for its chief executive, Noel Quinn, despite a drop in fourth quarter profits, which took unexpected hit from its exposure to China’s real estate downturn.
The London-headquartered lender disclosed on Wednesday that it had settled on a $10.6m (£8.4m) package for Quinn, marking a significant rise from the $5.6m he received for 2022, thanks to a long-term bonus in HSBC shares worth more than $5m.
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