SANTANDER (dpa-AFX) - HSBC Holdings PLC (HSBA.L, HSBC), considering the stakeholders' interest, said its three executive directors agreed to take a cut in their pension allowance to 10 per cent of salary from 30 percent, effect from 1 April.
The company also said for any new executive director, the cash in lie of pension allowance will also reduce to 10 percent, the bank stated at its Annual General Meeting.
The Group Chairman, Mark Tucker, said many of UK customers are cautious about the immediate future on the uncertainty over Brexit, which is likely to continue for some time.
Mark said the bank is monitoring the events to ensure that the service offered to the customers in Europe is not affected.
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