HSBC executive pay under pressure

Pirc, the investor activist body, has recommended to shareholders that they
reject a remuneration plan for HSBC executives that could see finance director
Douglas Flint earn up £25m.

The scheme, according to the Financial Times could also see chief executive
Mike Geoghegan pocket around £36m.

The sheme, to be considered at the bank’s agm on Friday, covers annual
bonuses and long-term incentives that could see executives receiving up to 12
times basic every year for the next three years.

The Association of British Insurers has expressed concern in the past on
remuneration by issuing one of its ‘amber alerts’.

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