HSBC boss' bonus revealed following profit slump

The Chief Executive of HSBC has received a large boost in pay and bonuses, amidst a profits slide and cuts to the banks' bonus pool – The Metro reports.

Stuart Gulliver received a bonus of £1.7million last year, rising from £1.1million, despite a fall in profits of 62% (to £5.7billion) and the banks pledge to cuts to its bonus pool by 12.3%.

The total bonus pot for HSBC staff has been gradually decreasing - in 2014 it stood at £2.9billion, in 2015 £2.8billion, and in 2016, £2.4billion. Investment bankers bonuses fell to £767million, down from £880million. 

Gulliver's total pay, including salary, pension and other taxable benefits, dropped from £7.3million in 2015 to £5.7million in 2016, but this was mostly due to the way HSBC’s long-term incentive plan was accounted for during the year – City AM reports.