London: The boss of HSBC, Stuart Gulliver, earned over 500 times more than the bank’s lowest paid workers last year. The bank revealed that Gulliver received a hefty 7.4 million pounds in pay and perks in 2012.
The bumper package included a near two million pounds annual bonus even though the bank was fined 1.2 billion pounds for a money laundering scandal.
According to the Daily Mirror, Gulliver also earned a 1.25 million pounds salary, 1.2 million pounds in other benefits and share awards of three million pounds.
HSBC also revealed that 204 staff was paid at least one million pounds last year, including 78 based in the UK. In total, the five highest paid employees at the bank shared nearly 27.8 million pounds in pay, perks and bonuses.
According to the report, the banking group, which employs 270,000 people, makes an estimated 90 percent of its money from outside Britain and has benefited from its exposure to emerging markets in Asia.
First Published: Tuesday, March 05, 2013, 21:23