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HSBC scraps bonus cap for UK bankers

Move comes the day after Goldman Sachs’s decision to remove the EU-imposed limit on variable pay

London office set to gain more control over fixed costs and clawback incentives
London office set to gain more control over fixed costs and clawback incentives Photo: Mike Kemp/Getty Images

HSBC has become the latest bank to ditch the cap on bonuses for City bankers.

Shareholders voted in favour of scrapping the EU-imposed limit at the bank’s annual general meeting on 3 May.

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