Our stories about HSBC's compensation changes, which appeared originally online, received a great deal of attention from readers. The two opposing views one for the HSBC switch, the other against are reflected in the comments we received. Here is a sampling:
"I believe HSBC is taking a courageous step to address an issue many in the industry have been dealing with: namely, disparate compensation scenarios which impede joint sales and relationship management objectives. I would imagine other providers would like to make the same change, but are fearful of the consequences. It could be that the fall-off in production feared by some may not be as great as anticipated. The new compensation structure's goal of more closely aligning all employees to work in the best interests of clients may just produce enough business to overcome any contemplated loss in revenues caused by the change in comp structure. Time will tell." David S.
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