06:22 AM EDT, 10/12/2026 (MT Newswires) -- HSBC (HSBA.L) plans to transition its pay system through the phase-out of its fixed-pay allowances for senior staff, Bloomberg News reported on Monday, citing a company memo. The compensation system shift, which will take effect by the start of 2028, will allow the lender to pay bigger bonuses to top performers. The change is part of the lender's restructuring plan. The "Wall Street-style" remuneration system aims to boost its "ability to pay for performance, better differentiate, attract the best talent, and recognize top performers," An HSBC spokesperson said. HSBC did not immediately respond to a request for comment from MT Newswires. (Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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