HSBC Employees Are Not Happy After Winning The "Most Underpaid" Bank Award

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HSBC wins the title for most underpaid bank, ahead of (in order) Deutsche Bank, RBS, JP Morgan, Barclay’s, Credit Suisse, Goldman, and UBS.

The real winner is of course UBS, the “least underpaid” bank.

The list, compiled by eFinancialCareers, suggests a lot of unhappy bankers. So does this.

HSBC’s chairman Stephen K. Green on Michael Geoghegan, the CEO: “I believe Mike to be underpaid.”

(This was at a news conference in London, according to DealBook.)

And later, Geoghehan said about Stuart Gulliver, CEO of HSBC’s i-banking business: “I know that Stuart could easily get more pay elsewhere…If I had to replace Stuart, I’d have to pay significantly more.”

HSBC’s Green expressed feeling at odds with shareholders on the issue of Geoghegan’s pay.

It’s good to hear there is arguing in the boardroom. That is the best place for it.

“We’ve got some work to do with our shareholders,” he said.

Read more on Dealbook.

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