Posted by AdviserDirect on 04/05/2019

HSBC under fire over ‘guaranteed bonus’ scheme

HSBC under fire over ‘guaranteed bonus’ scheme

HSBC has been criticised for continuing to offer a controversial “guaranteed bonus” scheme that will be part of a pay policy due to be put to a shareholder vote next week.

The influential shareholder advisory group ISS voiced concerns over the pay arrangements, describing guaranteed bonuses as a “problematic issue” and saying that HSBC has so far failed to provide clear guidelines on how or why they are earned.

Guaranteed bonuses are often “golden hellos”, meant to compensate fresh recruits for lucrative bonuses they might have earned if they had stayed in their previous job.

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