HSBC urges investors to back AGM vote opening way to higher bonuses

London-headquartered lender wants to take advantage of UK’s decision to scrap bonus cap

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HSBC is urging shareholders to back a vote at its annual meeting that would open the door to bigger bonuses for its highest-earning bankers.

The London-headquartered lender wants to take advantage of the UK’s decision to scrap the banker bonus cap, which was introduced after the 2008 financial crisis and limited bonuses at twice an individual’s base salary.