THE SUNDAY TELEGRAPH: Stuart Gulliver, the new chief executive of HSBC, is expected to accept a bonus of as much as £9m later this month in reward for his stewardship of the bank's investment arm.Mr Gulliver, who took over from Mike Geoghegan at the turn of the year, is set to be awarded the windfall as part of an overall compensation package which could take the total amount he receives for 2010 to in excess of £10m.
Although the bank's remuneration committee, chaired by HSBC's deputy chairman, John Thornton, has not yet finalised any executive bonuses, City sources with knowledge of the situation believe that a bonus of £9m is highly possible.
If so, it would mirror the amount Mr Gulliver received for 2009, and would be in line with the amount his counterpart at Barclays, Bob Diamond, is set to be paid.
Stephen Hester, the chief executive of Royal Bank of Scotland, and Eric Daniels, the chief executive of Lloyds Banking Group, are likely to be in line for awards of £2.5m and £2m respectively. >>> James Quinn and Kamal Ahmed | Sunday, February 06, 2011
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