The cost saving drive is being led by CEO Georges Elhedery who stepped into the job in 2024. These savings may be achieved 6 months ahead of schedule.
£2.9bn of bonuses were paid to staff in 2025, with the CEO taking home £11.4m in total compensation.
HSBC's pay committee said it intends to give the CEO the maximum long-term incentive award at 600% of salary for 2026-2028.
However profits were down 7% year-on-year for 2025, suggesting a focus on costs rather than revenues.
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