HSBC fired investment bankers on bonus day and gave them no bonuses

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HSBC Investment Bankers on the day when they had to learn their bonus figures, no bonus, that many people would let the bank show a more ruthless approach to a new executive executive.

Last month, a lender in London reported that they lost their jobs, saying that they would merge its merger and its own capital markets.

Those rumors have taken place just as bankers expect to know how much they receive in the bonuses of the work done in the 2024 calendar year, three people reported. But bankers at the vice presidential level and above Hobbies:The investment banking unit, who had their employment, was stopped as part of reconstruction, did not receive a bonus, said the people.

“It’s very, unlike HSBC,” said one of the people, adding that the bank had “searching for prestige.” [its] people. ” The bank refused to comment.

Other investment banks sometimes pay bonuses to whose positions they stop as part of reconstruction programs, even if such bonuses are smaller than usual.

Since taking the reptile in September, it has saved significant costs. HSBC revealed last month Aim to save $ 300 million In 2025 and at the end of the year, cutting $ 1.5 billion from its annual value base.

The pages accounted for investment banking operations in Asia and the Middle East, except for the issue, three people say that he did not go before that step. One said that the investment bank was an important way to maintain high-level relations with basic customers in the region.

The bank also cut some investment banking works in Hong Kong. The investment banking system is a relatively small part of HSBC business, commercial and retail bank account for larger shares.

Investment Bank Pullback is a greater renovation that has provoked Elhedery, which also includes two major HSBC units, a layer of precious senior bankers and “Western markets” section and cutting “Eastern Markets” section. has been renamed sinceA number

Some investment bankers who occupied job losses still expected to receive a piece of their bonus, given that it was related to work last year.

HSBC has been under pressure to reduce costs, as pleasure to enjoy increasing interest rates in recent years. Income from interest is about half of HSBC income, but last year his net percentage income fell.

Last month, HSBC offered a proposed payment package to 15.3 million pounds, which could rise to 19.8 million pounds if the bank’s shares raise the price to promote its shares.

It will make him significantly higher than his previous Noah Quinn, whose total payment package in 2023, his last year in the bank – 10.6 million pounds. It was almost twice as much as he had received a year ago due to the definition of a long-term long-term stimulation program.