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HSBC Boosts Bonuses 31% in ‘Extraordinarily Competitive’ Market

  • Bank says its variable pay pool rises to $3.5 billion
  • Lenders worldwide are ramping up pay to retain talent

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HSBC Holdings Plc boosted its overall bonus pool by almost a third to $3.5 billion in part to retain staff, the latest example of how an industry-wide race for talent is pushing up costs.