HSBC top earner paid near 10 million pounds

LONDON (Reuters) - HSBC Holdings (HSBA.L) paid one of its bankers more than 9.9 million pounds in 2007, a touch below the previous year's high-end salary, the bank's annual report showed on Monday.

HSBC Chairman Stephen Green and Chief Executive Michael Geoghegan both broke the 3 million pound barrier, earning just over 3 million and 3.5 million pounds respectively last year in salary, benefit and bonuses -- up from 2.9 million each in 2006.

Green moved up from CEO in May 2006, when Geoghegan was promoted from head of UK banking.

But one employee at the bank was paid between 9.9 million and 10 million pounds, including bonuses.

Under Hong Kong regulations, HSBC is required to disclose how much its top five earners were paid, but it does not disclose the employees' names or departments. The bank's highest earner in 2006 was paid over 10.4 million pounds.

The second-highest earner last year received more than 4.9 million pounds and the third more than 4.7 million -- both below the previous year's number two and three who were paid about 8 million pounds and about 6.5 million respectively.

It is likely the big earners are from HSBC's investment banking unit where bankers often earn more than the chief executive due to performance related payments.

HSBC said on Monday the head of global banking and markets, Stuart Gulliver, is to join its board in May, which will result in clearer disclosure of his pay. It said his base salary is 600,000 pounds.

HSBC's profit rose 10 percent last year as strong gains in Asia helped Europe's biggest bank absorb a $17.2 billion hit for bad debts largely due to U.S. housing problems.

(Reporting by Clara Ferreira-Marques and Steve Slater)