Reported 2 days ago
HSBC's bonus pool remained largely unchanged at $3.80 billion in 2024, despite a 3% drop in headcount as the bank undertook significant cost-cutting measures and restructuring under new CEO Georges Elhedery. The bank's annual profit exceeded market expectations, bolstered by growth in wealth and markets. Elhedery's total compensation reached £5.4 million, with potential for higher earnings following the removal of bonus caps in the UK. The global workforce declined to 220,928, reflecting strategic changes aimed at improving profitability.
Source: YAHOO