Market Chatter: HSBC to Start Phasing Out Fixed-Pay Allowance Payouts for Senior Staff

05:43 AM EDT, 10/12/2026 (MT Newswires) -- HSBC (HSBC) will start phasing out fixed-pay allowance payouts for senior staff at the start of 2027, in favor of bonuses, Bloomberg reported Monday, citing a company memo. The move is in line with the ongoing overhaul led by HSBC Chief Executive Georges Elhedery, according to the report. HSBC did not immediately respond to MT Newswires' request for a comment. (Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)