HSBC boss gives £4m of bonus to charity

Mar 1 2010 By nebusiness

HSBC boss Michael Geoghegan confirmed today that he will hand up to £4 million of his bonus payouts to charity as the banking giant reported a 56% rise in annual profits.

The group said it made US$13.3bn (£8.8bn) in underlying pre-tax profits last year, up from an adjusted US$8.6bn dollars (£5.7bn) in 2008.

Its chief executive said he would pass on his £4m bonus entitlement - which will be paid in deferred shares - to charities around the world over the next three years.