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HSBC is transitioning to a Wall Street-style bonus model for senior staff, moving away from fixed-pay allowances. This change is part of the bank's broader restructuring since Georges Elhedery became CEO in September 2024. The new pay system, set to begin in 2028, aims to align compensation more closely with performance, attract top talent, and recognize high achievers.
HSBC will reduce its reliance on fixed-pay allowances, which have historically taken the form of share awards subject to a retention period. The bank spent $3.93 billion on variable pay in 2025, a 10% increase from the prior year.
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