HSBC Bonus Pool Rises With Focus on Rewarding Top Performers

HSBC Holdings Plc’s overall bonus pool rose 10% to $3.93 billion, the highest in at least a decade after the bank delivered full year results that beat estimates.

The rise comes as Chief Executive Officer Georges Elhedery looks to pivot the lender towards more of a Wall Street-type bonus system as part of a sweeping overhaul. The new compensation structure will allow the bank “to attract, to hire and to retain talent,” Elhedery said in an interview on Bloomberg Television.