Joel Hills

Business Editor

Joel Hills is Business Editor for ITV News. He leads all business coverage and provides in-depth analysis of the latest business stories on the agenda, both in the UK and around the world.

  1. Joel Hills

A bad year for HSBC but 320 staff earned more than €1m

So 2014 clearly was not a good year for HSBC. The investment bank made less money but the group as a whole continued to pay penalties for past abuses whether it was in terms of fines or indeed compensation.

It still made a lot of money - just over £12 billion for 2014, down though by 17% on the year before. Profits fell, so did the amount the chief executive earns. Stuart Gulliver took home £7.6m for last year. His bonus was cut by £500,000 because the bank failed to prevent traders manipulating the currency markets.

Remember that fine came at the tail end of last year. The overall bonus pool was also smaller, but 320 staff earned more than a million Euros each. Labour said the scale of the bonuses was astounding given the revelations of the last few days.

Load more updates