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HSBC cuts some senior dealmaker salaries by 25%

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HSBC plans to cut salaries for some newly-promoted managing directors by up to 25% in the latest sign that the planned scrapping of the UK bonus cap could prompt banks to upheave pay.The UK lender will offer salaries of £225,000 to some senior investment bankers, Bloomberg reported citing people familiar with the matter.

The new salary will be for newly-promoted managing directors, with those currently in the role earning £300,000, the publication said.HSBC's...

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