HSBC 2014 Annual Report Download - page 131

HSBC BANK PLC
Notes on the Financial Statements (continued)
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which the award relates. Details of the Plans are contained within the Directors’ Remuneration Report of HSBC Holdings
plc.
Of these aggregate figures, the following amounts are attributable to the highest paid Director:
2014
2013
£000
£000
Fees
–
–
Salaries and other emoluments
1,340
501
Annual incentives1
941
1,645
1 Awards made to the highest paid Director are delivered in the form of cash and HSBC Holdings plc shares. The amount shown is comprised of
£169,416 (2013: £219,305) in cash, £254,124 (2013: £328,958) in deferred cash, £169,416 (2013: £219,305) in Restricted Shares and £254,124
(2013: £328,958) in deferred Restricted Shares issued under the HSBC Share Plan 2011, and £94,120 (2013: £548,180) in shares awarded under
the Group Performance Share Plan (‘GPSP’) which is the long–term incentive under the HSBC Share Plan 2011. The total vesting period of
deferred awards is no less than three years, with 33% of the award vesting on each of the first and second anniversaries of the date of the award
and the balance vesting on the third anniversary of the date of the award. Where the total vesting period is three years, the share awards will be
subject to a six month retention period upon vesting. GPSP awards are subject to a five year vesting period. On the vesting date GPSP awards
are subject to a retention requirement until cessation of employment.
The highest paid Director did not receive any shares as the result of awards under long–term incentive plans that vested
during the year. The highest paid Director exercised 708 share options over HSBC Holdings plc ordinary shares during the
year.
No pension contributions were made by the bank in respect of services by the highest paid Director during the year.
6 Auditors’ remuneration
2014
2013
£m
£m
Audit fees payable to KPMG1
6.9
7.1
Audit fees payable to non–KPMG entities
0.6
0.5
Total auditors remuneration
7.5
7.6
1 Fees payable to KPMG for HSBC Bank plc’s statutory audit and the audit of the bank’s subsidiaries.
The following fees were payable by the group to the group’s principal auditor, KPMG Audit Plc and its associates (together
‘KPMG’):
2014
2013
£m
£m
Audit fees for HSBC Bank plc statutory audit1:
3.7
3.8
– fees relating to current year
3.4
3.4
– fees relating to prior year
0.3
0.4
Fees for other services provided to the group
8.4
8.9
– audit of the group’s subsidiaries, pursuant to legislation2
3.1
3.2
– audit–related assurance services3
3.9
4.4
– audit of pension schemes associated with the group
0.1
0.1
Tax services
– taxation compliance services
0.1
0.1
– taxation advisory services
0.1
0.2
All other services
– services relating to information technology
0.4
0.0
– all other services
0.7
0.9
Total fees payable
12.1
12.7
1 Fees payable to KPMG Audit Plc for the statutory audit of the consolidated financial statements of the group and the separate financial
statements of the HSBC Bank plc. They exclude amounts payable for the statutory audit of the bank’s subsidiaries which have been included in
‘Fees payable to KPMG for other services provided to the group’.
2 Including fees payable to KPMG for the statutory audit of the bank’s subsidiaries.
3 Including services for assurance and other services that relate to statutory and regulatory filings, including comfort letters and interim reviews.
Fees payable to KPMG for non–audit services for HSBC Bank plc are not disclosed separately because such fees are
disclosed on a consolidated basis for the group.