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HSBC’s Geoghegan to Get $36 Million Severance Pay, Times Says

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Sept. 26 (Bloomberg) -- Michael Geoghegan, the outgoing chief executive officer of HSBC Holdings Plc, may receive a severance package of 23 million pounds ($36 million) in salary, bonuses and shares, the Sunday Times reported, without saying how it obtained the information.

The payout, accumulated during Geoghegan’s 37 years at the bank, will be conditional on the company’s performance and may be lower, according to the newspaper.

To contact the reporters on this story: Agnes Lovasz in London at alovasz@bloomberg.net

To contact the editors responsible for this story: Willy Morris at wmorris@bloomberg.net

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