largest bank, could be risking its investors’ anger over its proposed executive
remuneration to five directors to share £120m over the next three years in a pay
scheme which will be discussed at this week’s shareholder meeting.
The Association of British Insurers has issued an “amber” rating to HSBC
investors, indicating there is concern over its pay report, while Pirc, the
corporate governance adviser, is advocating a vote against the bank’s scheme,
calling it “excessive”, The Times reports.
Under the new scheme, Mike Geoghegan, HSBC’s chief executive, the
highest-paid director with a £1m salary, could receive a bonus of up to four
times his salary and a long-term incentive plan which could be equivalent to
seven times his salary – a potential pay package of £12m a year.
It is understood the directors will have to meet tough profit performance
targets and significantly beat City forecasts to receive the bonus.
Does Darwin's theory apply to taxation? Colin ponders...
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
The Financial Reporting Council has issued guidance regarding the annual reporting of 1,200 large and smaller listed companies. The letter highlighted the key issues and improvements that can be made in the 2016 reporting season
Baldwins Accountancy Group has continued investment in the north-east and appointed David Fish as a director in its corporate finance team