HSBC has 59 percent gender pay gap, biggest among British banks

HSBC will reveal a gender pay gap of 59 percent at its main UK banking operation, the biggest yet disclosed by a British bank, according to a copy of the lender''s report on the subject seen by Reuters on Thursday ahead of its publication. The bank will also disclose a mean gender bonus gap of 86 percent at HSBC Bank Plc, which is the biggest of the lender''s seven entities in Britain and employs 23,507 people.
A spokeswoman for the bank confirmed the contents of the report. The gender pay gap is the biggest yet reported by a British financial firm, according to government data, with some firms yet to provide figures ahead of an April deadline set by Prime Minister Theresa May last year. Almost 50 years since the passage of Britain''s equal pay act, the continued gulf in earnings between men and women has attracted significant public attention over the past year or so. In common with other banks, HSBC said its pay gap was largely accounted for by the bank having fewer women in senior roles.