• Michael Geoghegan refuses rise in salary• Bank reports 24% fall in pretax profit for 2009 to $7bn• HSBC’s highest-paid banker gets £10m bonusFive bankers at HSBC shared a bonus bonanza of more than £38m last year, even as the bank tried to demonstrate it was heeding public concern about City pay through a choice by its chief executive Michael Geoghegan to hand his £4m bonus to charity .As the bank reported a 24% fall in pretax profit for 2009 to $7bn (£4.63bn), the bank’s annual report showed that the company had intended to hand the chief executive a pay rise “in light of the international competition position and the increased responsibilities”.
Posts Tagged ‘1m’
HSBC boss Geoghegan hands £4m bonus to charity but top 5 bankers share £38m
March 2nd, 2010 
Before You Invest 
Posted in Finance Fraud 
Tags: 1m, 3m, 4m, 5m, 7m, 9m, Annual Report, Bonanza, Charities, Chief Executive, Competition Position, Executive Director, Gulliver, International Competition, Investment Bank, Michael Geoghegan, Pretax Profit, Public Concern, Report Showed That, Report Suggests That 
Comments OffLloyds CEO waives £2.3m bonus
February 24th, 2010 Before You Invest Eric Daniels, chief executive officer (CEO) of Lloyds Banking Group, has agreed to waive his £2.3m bonus for 2009.He is one of a number of high-profile bankers to have recently agreed to waive the additional payment.Stephen Hester, CEO at the Royal Bank of Scotland, and John Varley, CEO at Barclays, have both announced they would not be accepting a bonus.But, the head of Lloyds is still expected to receive an annual salary of more than £1m.Win Bischoff, chairman at Lloyds, said that the remuneration committee at Lloyds chose that Mr Daniels deserved a full bonus payment.But, “Mr Daniels has informed the board … that he wishes to waive his bonus, the second consecutive year that he has done”, he clarified.“Mr Daniels has taken this action because he believes that the brilliant progress the group is making, based on the considerable contribution of many colleagues across the company is in danger of being obscured by the current debate on executive bonus awards in the banking sector.”Lloyds is reported to be preparing to pay a bonus pool of more than £200 million to top executives.
Posted in Finance Fraud Tags: 1m, 3m, Annual Salary, Bank Of Scotland, Banking Group, Banking Sector, Barclays, Bonus Awards, Bonus Payment, Bonus Pool, Chief Executive Officer, Eric Daniels, Executive Bonus, John Varley, Lloyds, Remuneration Committee, Royal Bank Of Scotland, Second Consecutive Year, Stephen Hester, Top Executives Comments OffPay for senior executive at Goldman Sachs capped at £1m
January 27th, 2010 Before You Invest Investment bank Goldman Sachs is to cap pay levels for its 100 London-based partners at £1 million. The choice is part of a go to deflate public rage over banker bonuses and the role of financial institutions in the global economic crisis, the BBC reported.
Posted in Finance Fraud Tags: 1 Million, 1m, Banking Industry, Bbc, David Viniar, Economic Turmoil, Finance Officer, Global Economic Crisis, Goldman Sach, Goldman Sachs, Hundred Million, Investment Bank, Packet Sizes, Pain And Suffering, Pay Packet, Previous Year, Profit Figures, Public Anger, Role Of Financial Institutions, Salaries Comments OffFeds pursue fund manager they say stole $1M
October 31st, 2009 Before You Invest A federal judge froze the assets of an $8.3-million Chicago-based hedge fund after a federal regulator sued the fund’s manager for misappropriating $1 million from his investors.Richmond H. Hamilton Jr., who manages Raleigh Capital Management Inc. from his home in Morocco, diverted the money to pay for personal expenses including an airplane and the lease on a car in the U.S., according to a complaint filed Wednesday in Chicago by the Commodity Futures Trading Commission.
Posted in Finance Fraud Tags: 1m, Affidavit, Airplane, Capital Management Inc, Cftc, Commodity Futures Trading Commission, Federal Judge, Federal Regulator, Feds, Futures Trading Commission, Hamilton Jr, Hedge Fund, Investor Complaint, Mr Hamilton, National Futures, Personal Expenses, Real Estate Sales, Regulators, Sham, Withdrawals No Comments »$15.8m fine for spam – theaustralian.news.com.au – 24 Oct 09
October 28th, 2009 Before You Invest THE operators of a mobile phone text scam that preyed on the desperate and dateless were yesterday slammed with $15.8million in fines for breaching anti-spam laws. The fine, from Queensland’s Federal Court, makes the operators — who posted fake personals profiles on dating websites to harvest mobile phone numbers and lure men to pay up to $5 per message for SMS sex chat services — the recipients of Australia’s largest spam penalty.It trumped the West Australian Federal Court’s October 2006 imposition of $5.5m in fines against email marketing company Clarity1, of which $1m was levied against managing director Wayne Mansfield.It was also the first time the Australian Communications and Media Authority had taken legal action over SMS spam.By Andrew Colley
