HSBC boss Michael Geoghegan has confirmed that he will hand over 6 million dollars of his bonus money (£4mil) to charity. The bank said it made 13.3 billion US dollars (£8.8 billion) in underlying pre-tax profits last year.
The chief executive said he would pass on his £4 million bonus payment – which will be paid in deferred shares – to charities around the world over the next three years.
HSBC chairman Stephen Green has also waived his entitlement to annual bonus shares.
(READ More at the UK Metro)