HSBC 2015 Annual Report Download - page 322

Directors’ Remuneration Report (continued)
Appendix
HSBC HOLDINGS PLC
320
Aggregate remuneration expenditure
Global business aligned
Retail
Banking
and Wealth
Management
Commercial
Banking
Global
Banking and
Markets
Global
Private
Banking
Non-global
business
aligned Total
$m $m $m $m $m $m
Aggregate remuneration expenditure1
2015 106.9 77.6 797.8 76.2 411.9 1,470.4
2014 94.3 61.7 741.3 70.2 374.4 1,341.9
1 Includes salary and incentives awarded in respect of performance in the years 2014 and 2015 (including deferred component) and any pension or
benefits outside of policy.
Remuneration – fixed and variable amounts – Group-wide
2015 2014
Senior
manage-
ment1
MRTs
(non-senior
manage-
ment) Total
Senior
manage-
ment1
MRTs
(non-senior
manage-
ment) Total
Number of MRTs 101 1,208 1,309 98 1,080 1,178
$m $m $m $m $m $m
Fixed
Cash-based 67.9 567.3 635.2 64.1 517.0 581.1
Shares-based 51.3 82.8 134.1 51.8 88.7 140.5
Total fixed 119.2 650.1 769.3 115.9 605.7 721.6
Variable2
Cash 20.0 157.5 177.5 18.5 138.9 157.4
Non-deferred shares3 20.0 147.8 167.8 18.5 132.0 150.5
Deferred cash 27.5 135.1 162.6 24.9 119.5 144.4
Deferred shares 47.1 146.0 193.1 41.5 126.4 167.9
Total variable pay4 114.6 586.4 701.0 103.4 516.8 620.2
1 Definition of senior management includes members of the GMB, Group General Managers and non-executive Directors.
2 Variable pay awarded in respect of performance in the years 2014 and 2015.
3 Vested shares, subject to a six-month retention period.
4 In accordance with shareholder approval received on 23 May 2014, for each material risk-taker the variable component of remuneration for any one
year is limited to 200% of fixed component of total remuneration of the material risk-taker.
Remuneration – fixed and variable amounts – UK based
2015 2014
Senior
manage-
ment
MRTs
(non-senior
manage-
ment) Total
Senior
manage-
ment
MRTs
(non-senior
manage-
ment) Total
Number of MRTs 67 505 572 64 446 510
$m $m $m $m $m $m
Total fixed 77.6 274.1 351.7 73.1 244.5 317.6
Total variable pay1 68.5 238.4 306.9 60.7 205.2 265.9
1 Variable pay awarded in respect of performance in the years 2014 and 2015.