HSBC’s Asia bankers do better than peers as bonus pool cut 20%
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(FILES) This file photo taken on September 21, 2020 shows pedestrians walking past the logo for HSBC in Hong Kong. - HSBC was expected on February 23, 2021 to announce their 2020 annual results later in the day. (Photo by ISAAC LAWRENCE / AFP)
(AFP)
The bank saw a 20.4% drop in discretionary awards to about $2.66 billion for 2020
Most European financial institutions have been seeking to keep a lid on discretionary payouts this year
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HSBC Holdings Plc’s bankers in Asia were paid bigger bonuses than colleagues in other locations as Europe’s largest lender seeks a stronger foothold in the region.
HSBC’s top executives prepare move to Asia after announcement of 2020 earnings
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(Bloomberg)
. Updated: 21 Feb 2021, 05:16 AM IST Bloomberg
The coming reset comes just 12 months after an overhaul that called for cutting 35,000 jobs, about 15% of the total, over three years. But Chairman Mark Tucker told the Asian Financial Forum conference in January that the pandemic has upended those plans
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HSBC Holdings Plc is considering the return of some global leaders to the bank’s original hometown, reinforcing Asia’s role as its center of gravity.
A cadre of senior executives is set to relocate in coming months to Hong Kong from HSBC’s Canary Wharf headquarters, say people familiar with the plans, as Europe’s biggest bank pares its global ambitions.
merkel ahead of a highly anticipated speech at the brandenburg gate. welcome to today s program. plenty to get through as we camp down to what the fed may or may not say. we ll hear how the margin has reached its widest point in more than five years. we ll bring you a view on what stocks might rebound the fastest. global wealth has hit a record high with u.s. millionaires in particular. we ll break down the details of where else the world s money is flowing. and what are the risks to a u.s. recovery? we ll cross to washington to hear what might derail the optimism in america s manufacturing base. and can barack obama come up with a quote to match his predecessors at the brandenburg gate in we ll get a preview from nbc s chuck todd. first, though, the fed wraps up i hope you like that. very jolly. the fed wraps up its two day meeting with a decision expected at 2:00 p.m. along with updated economic forecasts. that s followed by ben bernanke s news conference at 2:30 p.m.
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there s international problems. the bae/eads merger, largest shareholder opposes the deal saying it would be better left as a stand alone company. and angela merkel s first visit to athens since the eurozone crisis as finance ministers meet today in luxemburg. very good morning to you. a new week on worldwide exchange. and too late. if you haven t got your application in, it is too late. bank of england government job should have been in half an hour ago. so if you didn t make it, you re not going. jim o neill wasn t applying, scott mcdonald wasn t applying either. i didn t get mine in. so never mind. stick here. also coming up, we ll be heading to new delhi to hear how undoing regulatory requirements could boost investments. details from one of the author of the quarterly cfo survey. and also president chavez is fig celebrating a hard-fought victory. if you have any thoughts, comments, whatever you like, e-mail us worldwide@cnbc.com or tweet @cnbcwex or @rosswestgate