HSBC pay plan raises eyebrows

BANKING heavyweight HSBC faces a revolt over directors' pay at its annual general meeting of shareholders on Friday.

If approved, five directors at HSBC could share a £120 million jackpot over three years if they hit profit performance targets ahead of what City analysts are forecasting. Pirc, the corporate governance group, is recommending shareholders vote against the remuneration report, while the Association of British Insurers has issued an amber alert, indicating concern.