HSBC considering £15m pay package for new CEO The planned overhaul would cut Georges Elhedery’s salary, but ultimately raise his maximum pay package by nearly 43%.
The bank’s remuneration committee is testing whether investors are receptive to an overhaul that would slash Elhedery’s salary but boost his potential bonus payouts and ultimately raise his maximum pay package by nearly 43%.
The potential pay changes follow similar moves by Barclays, which is also looking to take advantage of the bonus cap removal and offer a lower salary and bigger bonus package for its chief executive CS Venkatakrishnan.
The new chief executive of HSBC, Georges Elhedery, could scoop a maximum pay package worth more than £15m, as part of a potential deal being put to its biggest shareholders.
The proposals, first reported by Sky News, would take Elhedery’s total potential pay package up from around £10.5m to more than £15m.
