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HSBC offering bonuses to entice staff to Birmingham

Bank is reportedly asking staff to persuade reluctant colleagues to move to the city from London

HSBC is reportedly offering its staff bonuses of up to £2,500 if they can persuade a reluctant colleague to take the plunge and move to Birmingham from the capital.

The company is said to be struggling to fill all of its roles in the city as it relocates staff from its business and retail banking arm out of Canary Wharf in London to a new home at the Arena Central development in Broad Street.

Staff are being offered bonuses of between £750 and £2,500, depending on the seniority of the role, if they can convince a London-based team member to relocate up to Birmingham, according to the Guardian .

The new base for HSBC UK at 2 Arena Central, which is due to be ready for occupancy by early 2018, is expected to accommodate up to 3,500 staff when full although many of them will come from existing offices in the city.

The newspaper reports that HSBC UK has only managed to fill just over half of its target of 1,040 roles.

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The newspaper said chief executive António Simões told reporters during a tour that the bank had made the relocation package more attractive with support for housing and schooling.

However, the bonuses element was leaked from an internal HSBC staff website.

Earlier this year, we reported that the banking group had received enquiries from its staff based in the Middle East and Hong Kong about the new roles being created in the city.

HSBC UK was formed following government laws passed in 2013 which stated that the more risky investment arm of certain British banks should be separated off from their business and retail banking teams by 2019.

The bank has so far made no official comment on the bonuses.

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