Revelations about bankers’ pay come as HSBC reports a fall in profits to $20bn (\u00a313bn)<\/p>\n
http:\/\/www.guardian.co.uk\/business\/2013\/mar\/04\/hsbc-pay-top-earners<\/p>\n
HSBC<\/a>\u00a0paid 204 of its staff more than \u00a31m in 2012, a year when Britain’s biggest bank made profits of $20.6bn (\u00a313.7bn) despite being fined \u00a31.2bn by the US authorities for\u00a0helping Mexican drug barons<\/a>\u00a0launder money through the financial system.<\/p>\n At the start of a week in which Barclays and Royal Bank of Scotland are both expected to publish the pay of their highest earners for the first time, HSBC disclosed that 78 of those who took home more than \u00a31m were based in the UK.<\/p>\n Britain’s biggest union, Unite, described the scale of the pay as an “outrage” given that some of its members at HSBC take home \u00a314,000 a year and are facing changes to their pension schemes and holidays.<\/strong><\/p>\n The bank paid $200m of corporation tax in the UK on the profits, which were lower than the City expected, causing the shares to fall 2.5% to 710p.<\/p>\n","protected":false},"excerpt":{"rendered":" Revelations about bankers’ pay come as HSBC reports a fall in profits to $20bn (\u00a313bn) http:\/\/www.guardian.co.uk\/business\/2013\/mar\/04\/hsbc-pay-top-earners HSBC\u00a0paid 204 of its staff more than \u00a31m in 2012, a year when Britain’s biggest bank made profits of $20.6bn (\u00a313.7bn) despite being fined … Continue reading