People like Ann should not have to pay the money back, says Clive Betts, an MP on the all-party parliamentary group (APPG) on pension clawback, which is campaigning to abolish the practice. Attention: Mail stop NOE 1290 1 Corporate Drive, Suite 360 Lake Zurich, IL 60047-8945 Her husband was very ill throughout 2018 and died in October. HSBC has told shareholders that scrapping the deductions would cost it about £450m. Often the first time people become aware of it is when they reach state pension age – which may be years after they start receiving their company pension – and discover that their income has been reduced. “At the time this feature was introduced in 1975, a large number of pension schemes integrated their pension benefits with the state pension, and a significant number of these schemes continue to contain similar features, albeit using different approaches to achieve the integration.”. P.O. “These individuals said they didn’t know about the scheme and HSBC said it’s perfectly obvious. 401k match. The clawback of their company pension begins when they start to get their state pension. Ann Marston, 69, has been told she owes the bank more than £8,000 because it was not applied when she started receiving her state pension at 60. HSBC's Future of Retirement study is a leading independent study into global retirement trends. This Summary Plan Description (SPD) describes the Cash Balance section of the HSBC – North America (U.S.) Pension Plan (the “plan”) as amended through January 1, 2018. Yvonne Stredder, 66, from Hertfordshire, resigned from HSBC in 2015 and began to receive a company pension of nearly £300 a month. Around 52,000 people who joined Midland Bank (which later became part of HSBC) were signed up to the now-defunct defined benefit pension scheme between 1975 and 1996. "To locate a lost plan, former employees will need any document that has contact information for their old employers," says Jane Smith, a policy analyst at the Pension … Clawback is calculated using a person’s length of service, not their salary. I joined HSBC ... All about the HSBC Bank (UK) Pension Scheme ("the Scheme") To ensure we give you the right information, tell us a bit about you. “We are furious at HSBC. Groups says bank’s ‘grossly unfair’ policy is costing pensioners up to £2,500 a year, Last modified on Sat 30 Mar 2019 04.04 EDT. The bank isn’t short of a bob or two: last month it reported a 16% rise in 2018 pretax profits to $19.9bn (£15.4bn). “And then out of the blue, I got a letter in 2017 saying they’d overpaid me by £1,600. The amount which retired HSBC workers will lose varies, but for some it could be as much as £2,500 a year — not an insubstantial amount for … But not HSBC. It is estimated that about 52,000 former employees of HSBC … Working for hsbc has been stressful. These pensioners worked hard to earn this income for their retirement,” says national officer Dominic Hook. – Former employee of a Union Pension Fund “I worked for them almost 18 years and didn’t think I’d be getting a pension. “HSBC ought to put their hands up and say: ‘We go it wrong, let’s just drop this’,” he tells i. HSBC has so far stuck by the clawback practice, which it refers to as “state deduction”. Cons. Anger as HSBC claws back pension cash HSBC … Benefits information above is provided anonymously by current and former HSBC Holdings employees, and may include a summary provided by the employer. “I just accepted it. So obvious they didn’t even know about it themselves in this case? We’ve not done anything’. She had no idea about the practice, let alone that the bank was not deducting the money. I did more than my fair share and I helped out the bank so much when I was working all the extra hours for them. “These individuals said they didn’t know about the scheme and HSBC said it’s perfectly obvious. Pros. “HSBC ought to put their hands up and say: ‘We go it wrong, let’s just drop this’,” he tells, “I said: ‘I’m sorry, I spent it in good faith, you gave it to me, you were aware of my status and everything else… I’m not paying it back because I can’t afford it’.”, What time Nicola Sturgeon's Scotland Covid announcement is today, and how to watch live, Butch lesbian opens up about 'increasing harassment' she faces when using the public toilets, I tried Pizza Express' DIY recipe kits - £14 isn't cheap, but worth it for fans of nostalgia, Home Office says EU nationals do not have to prove settled status for jobs before June deadline, New electric car battery is cheap, charges quickly and makes any vehicle 'drive like a Porsche'. HSBC is one of the employers that makes a deduction, and some of its ex-staff argue they are losing out on up to £2,500 a year. Money was deducted from company pensions to take into account the state pension, avoiding a duplication of benefits. And then they slap that on me. I started on or after 1 July 1996. Former Midland Bank employee Sharon McGeough-Adams expects to lose almost £200 a month. So obvious they didn’t even know about it themselves in this case?”, “I don’t know if they can take it without my permission and I don’t know, if I refuse permission, what they will do. Active (Eligible) Participants 6,929; Retired or separated participants receiving benefits 15,187; Other retired or separated participants entitled to future benefits 32,474; Subtotal 54,590; Deceased participants whose beneficiaries are receiving or are entitled to receive benefits 1,950; Total 56,540; Total number of participants as of 01/01/2017 69,225 I joined please select. Under the rules of the scheme, payouts face a significant cut when former staff begin to receive their state pension. Learn about HSBC Holdings, including insurance benefits, retirement benefits, and vacation policy. Pension “clawback” was introduced in 1948, when the state pension launched. It allows employers to deduct from company pension payments some or all of the basic state pension amount. It allows employers to deduct from company pension payments some or all of the basic state pension amount. However many major employers have either never made use of integration, or withdrawn it partially or fully, or capped the amount. Nicky, another woman affected by the problem, took early retirement on health grounds at 55 following 36 years at the bank. A former HSBC senior vice president has filed a lawsuit claiming that the global bank retaliated against him for complaining about sexual harassment aimed at a fellow employee. Contact the HSBC Administration Team at: The HSBC Administration Team Willis Towers Watson PO Box 652 Redhill Surrey RH1 9AL. Twenty years ago the practice was quite widely used by UK employers: during the late 1990s unions claimed more than 2.5 million pensioners were having money “grabbed back” by their former employers. While Ann cared for him, she had a letter from HSBC informing her that her pension was being reexamined. The bank says a number of other UK banks have similar arrangements. So I put away extra savings every month to try and boost my income in retirement. Will they sue me?”. HSBC Customer Service Address. The state deduction feature became part of the rules governing the pensions of HSBC Midland employees in 1975 and is applied to benefits accrued before … So obvious they didn’t even know about it themselves in this case? Spent it, decorated the house. She has already had to cut back since HSBC began applying the clawback to her pension. The bank’s board “unanimously recommends that shareholders vote against the resolution”. Sorry, there was a problem with your subscription. “For someone like me that’s a lot of money,” she says. Box 22 Buffalo, NY 14240. Learn about HSBC Holdings Pension Plan, including a description from the employer, and comments and ratings provided anonymously by current and former HSBC Holdings employees. All rights reserved. They’re a law unto themselves and they’re doing themselves no favours whatsoever.”. Former participants in the HBUS Plan include individuals who became employees of HSBC Bank USA, N.A. Glassdoor is your resource for information about the Pension Plan benefits at HSBC Holdings. (“HSBC Bank”) before January 1, 1997, individuals who became HSBC Bank employees as a result of the acquisition of Republic National Bank of Most of staff wasn’t helpful and you have to figure it out on your own. Taking this back from me will more than wipe out all that extra money I’ve saved.”. Yvonne says she enjoyed working for HSBC but has come to realise “they just don’t care about the staff”. i has seen a copy of a letter about the clawback, which reads: “The Trustee of the Scheme has a duty to correct any errors that are made and to ensure that members are paid their true entitlement under the Scheme Rules. Some people stand to lose up to £2,500 a year. Yvonne is shocked at how she is being treated, particularly because HSBC would never treat its customers in the same manner. There’s a fundamental conflict with the line they’ve been putting out. A senior manager retiring on a £75,000 annual pension might suffer a £2,500 a year deduction on reaching state pension age. Many of the workers claim this “clawback practice” is unfair and that they were never informed about it. She then received another letter telling her the bank was going to start deducting £95 from her company pension each month, bringing it down to £451. “Why are they taking it? HSBC introduced the deductions in 1975, and the policy applies to about 52,000 members of its scheme who joined the bank between January 1975 and June 1996. The pension scheme was a non-contributory pension final scheme and staff were eligible to join between 31 December 1974 and 1 July 1996. Such practices were also described as pension integration, a bridging pension or state deduction. No work life balance or no pension plan. They told shareholders to vote against us’, Among those affected is Sharon McGeough-Adams, embroiled in a row over bumper executive pensions. Former HSBC employees are being asked to pay back thousands of pounds after the bank failed to apply the rules of an already controversial pension scheme. They want £1,600 back, basically.”, Yvonne did not take the news lightly. a recent formal complaint has been unsuccessful. We’ve not done anything. If we did something wrong at work, we gave a customer compensation, we didn’t ask them for the money back. Having to pay back the money through monthly instalments would not put Ann “on the breadline” but she would have to reconsider her outgoings. The news about the clawback repayment could not have come at a worse time. HSBC employees are recognized in the Financial Times’ most recent OUTstanding (LGBT+), Empower (ethnicity) and HERoes (gender) lists 2019 – five HSBC employees from Argentina, China and the UK were named in the 2019 ‘HERoes’ lists in recognition of their efforts to champion women in business. These individuals said they didn’t know about the scheme and HSBC said it’s perfectly obvious. It wasn’t until she looked at her pension estimate in January last year that she found out it was subject to a State Deduction of £1,872.72 when she reached the State Pension age of 67. She rejoined full time in 1992 until she left in 2011. There’s a fundamental conflict with the line they’ve been putting out. “I had the most stressful year of my life last year. It disputes that the terms of the pension scheme were not properly communicated or that it is unfair. Around 52,000 people who joined Midland Bank (which later became part of HSBC) were signed up to the now-defunct defined benefit pension scheme between 1975 … Your pension asset is valuable and by getting the right advice you will maximise your funds impact on your life and retirement. “That’s not the point,” she says. When I got the state pension in 2016, I was still getting the same amount,” says Yvonne, who worked as a clerk at branches in north London. P.O. USA Pension Plan (the “HBUS Plan”). Due to poor communication by both the Midland Bank and later HSBC, most current and former employees whose pensions are subject to clawback – those who had service between 1 January 1975 and 30 June 1996 – only found out when they reached state pension age and their income suddenly dropped. We are not permitted to pay you a pension which is above the level that you are entitled to and we must therefore correct the position for the future.”, ‘I think it’s appalling that they could treat us in this way. I am a former employee. We Specialise in Helping HSBC Employees and ex employees There are lots of options available and wading through the various choices are daunting. Annual leave. After a number of former HSBC employees living in Llanelli wrote to her to raise this, Ms Griffith helped to set up a cross-party group of MPs to campaign on the issue. ... Teller (Former Employee) - San Mateo, CA - September 1, 2015. HSBC Bank. But when HSBC announced it was closing the pension scheme in 2015, Tracey decided to take early retirement with a pension of £6,443.64 per annum. Email: HSBCpension@willistowerswatson.com (Don't forget to include your employee ID number in your correspondence.) The practice – which only applies to defined benefit occupational pension schemes – is legal but mostly frowned upon. The practice disproportionately affects women because they tended to be on lower salaries. Unite the union is supporting the workers. “I think it’s appalling that they could treat us in this way. The Trustee of the scheme has contacted the affected individuals.”. Sharon McGeough-Adams: ‘We are furious. Campaigners say the practice is “grossly unfair and morally indefensible,” and that staff “were misled”. The CEOs make outstanding blunders which cost the bank millions – I can think of a few of them over the length of my career. Constant pressure about getting referrals. The latest report in The Future of Retirement series, Shifting sands, looks at how important issues like the ageing population, rising healthcare costs and long term low interest rates are affecting the retirement plans of people around the world. Introduction. We would like to show you a description here but the site won’t allow us. Box 2013 Buffalo, NY 14240. Yvonne says she has no way of paying back the £1,600. According to the lawsuit, the employee reported an incident where a supervisor attempted to force a fellow employee to sleep with a senior banker. Others former employees have smaller amounts of money to pay back but they still cannot afford it. Among those affected is Sharon McGeough-Adams, 61, who started working for Midland Bank (which was taken over by HSBC in the early 1990s) in 1976 and retired in 2013. It is estimated that about 52,000 former HSBC employees are affected. HSBC also said she owed in excess of £8,000 to account for the years her company pension had been overpaid. Ann says she is fighting against paying back the money but a recent formal complaint has been unsuccessful. © 2020 Associated Newspapers Limited. It’s just so unfair,” she says. Employee share plans and discretionary pay awards based on performance The bank says the practice is a method of maintaining the pension scheme’s level of income for members in retirement. HSBC ’ s approach to remuneration consists of four main elements: Fixed pay. I started please select I started before 1 July 1996. This is a great surprise.” – Former employee, Major Hotel Chain “I didn’t know All Steel had been acquired by another company who would have my benefits. They have directed shareholders to vote against our resolution while at the same time asking them to vote for the board’s generous pay increases,” she says. Photograph: Lawrence White/Reuters. The Cash Balance section of the plan (the “Cash Balance section”) covers employees of HSBC North America Holdings Inc. (“HSBC – North America”) and Participating Employers who were first employed by HSBC … Former HSBC employees protesting about the pension cuts outside the bank’s annual shareholder meeting in Birmingham last year. “All the other banks have dropped it. This form is applicable in the circumstances where: The employee concerned has accrued benefits attributable to the employer's voluntary contributions and/or ORSO transfer; or; The employee concerned has completed at least 2 years of service with the employer. When asked about demanding money back from people affected by the pension scheme, HSBC said: “An error by the pension scheme administrators has unfortunately meant a small number of members have been impacted. Employees who want the practice abolished are expected to protest outside the AGM in Birmingham. Unrealistic sales goals and tough training activities and having to live in constant fear of losing ur job . HSBC Premier Service Center. Campaigners battling one of the world’s biggest banks over the “grossly unfair” way it treats the pensions paid to some former workers are getting ready for a David and Goliath showdown next month. Participant Information as of 12/31/2017. HSBC Bank USA, N.A. I am a pensioner. She says she will suffer a deduction of £2,317 a year when she reaches 66 in September 2023 – nearly £200 a month. For example, in 1999 Barclays capped the maximum deduction at around £950 a year, and BP scrapped deductions the following year. ‘I don’t know if I can put the heating on’: Ex-HSBC employees angry over ‘unfair’ pension scheme. A number of companies including Midland Bank had such schemes but very few still apply clawback. “I said: ‘I’m sorry, I spent it in good faith, you gave it to me, you were aware of my status and everything else… I’m not paying it back because I can’t afford it’.”. Phone: 01737 227575 (Monday to Friday between the hours of 9am and 5:30pm, excluding bank holidays.) However, a back office worker retiring on a £10,000 pension, with the same length of pensionable service, suffers the same deduction. Learn about HSBC Holdings Pension Plan, including a description from the employer, and comments and ratings provided anonymously by current and former HSBC Holdings employees. There is little or no common ground between the two sides. Ann, from Nuneaton in Warwickshire, joined Midland Bank in 1965 as a cashier but worked on and off for the next 30 years while she raised her family. The bank could hold a shareholder vote on the issue at the Annual General Meeting (AGM) on 12 April after the Midland Clawback Campaign Shareholder group put forward a resolution stating the practice is “creating financial hardship”. Active (Eligible) Participants 5,446; Retired or separated participants receiving benefits 16,105; Other retired or separated participants entitled to future benefits 27,335; Subtotal 48,886; Deceased participants whose beneficiaries are receiving or are entitled to receive benefits 2,294; Total 51,180; Total number of participants as of 01/01/2018 52,679 The CEOs make outstanding blunders which cost the bank millions – I can think of a few of them over the length of my career. “What they lose sight of is the fact that… we maintained [customer] loyalty by the service we gave them and then they turn round and treat us like this.”. Supporting document for employee's cessation of employment and the date of cessation. “It is disgraceful that this profitable and wealthy multi-national bank is demanding that pensioners pay them a significant amount of their pension. “The point is during my career with the bank, I knew that because of broken service and part-time work I wouldn’t come out with anywhere near the maximum pension. The HBUS Plan merged into the plan on December 31, 2004. H SBC has come under fire from politicians for cutting the pension payouts of its former staff by up to £2,500 a year. I worked the whole of my working life. Glassdoor is your resource for information about the Pension Plan benefits at HSBC Holdings. She is “extremely angry” over the clawback practice and wants it to be abolished, which would cost HSBC £450m. HSBC rejects the clawback label – it uses the term “state deduction”. It says this practice “is not unfair, disproportionate or discriminatory”, and has been clearly and consistently communicated to scheme members. HSBC began applying the clawback to Yvonne’s pension, which was cut to roughly £242 a month and offered her the option of paying back the sum she owed by further reducing her monthly pension. Everybody is entitled to their state pension as long as they’ve paid their national insurance. A range of benefits, which may cover areas such as work-life balance, insurance and savings, health and personal development. Personal Banker (Former Employee) - Yonkers, NY - November 5, 2020 I was micromanaged every second and constantly asked about my sales goals every second . LLANELLI’S MP Nia Griffith is campaigning for justice for HSBC employees whose pensions have been reduced by up to £2,500 per year. And it adds that the overall pension benefit received by these members “was and remains market competitive”, particularly given that this section of the scheme operated on a final salary basis and was non-contributory until 2009. Mortgages. They also claim there is no link to salary or pension received, so it disproportionately penalises the less well-off. The practice is called “clawback” and it involves cutting an employee’s company pension on the grounds that they also receive the state pension. Glassdoor is your resource for information about HSBC Holdings benefits and perks. It is estimated that about 52,000 former employees of HSBC are affected, and an action group has succeeded in demanding the matter be put to a shareholder vote, while protests are planned for outside the AGM venue on 12 April. Never mind what else was going on, on top of that, I had all this to contend with,” says Ann. The timing is also unfortunate for HSBC, which is embroiled in a row over bumper executive pensions. HSBC has so far moved only a "tiny" number of jobs to Paris in order to deal with Brexit, Chief Executive John Flint said on Friday, in the bank's most detailed comments yet on its plans. The bank rejects their claims and says the policy is not unfair or discriminatory. Participant Information as of 12/31/2018. McGeough-Adams is part of a campaign group that boasts around 10,000 members and is urging the bank to abolish or effectively remedy the practice. So a manager and a clerk on different salaries but who worked a similar length of time will have the same clawback even though the manager will have a bigger pension. Clawback affects people who joined Midland Bank between 1975 and 1996 on the defined benefit pension scheme. Premier Banking. “They wouldn’t do it to customers so why are doing it to the staff? Would like to show you a description here but the site won ’ t know I... Has been unsuccessful is also unfortunate for HSBC but has come to realise they! About it themselves in this case staff “ were misled ”, payouts face significant... Claim there is little or no common ground between the two sides had been overpaid money back in.. Or capped the amount range of benefits to £2,500 per year very few still apply clawback my in... Left in 2011 Sharon mcgeough-adams, embroiled in a row over bumper executive pensions some or all the! Money to pay back but they still can not afford it the timing is also unfortunate for employees! Around £950 a year deduction on reaching state pension amount back but they still can not afford.... The timing is also unfortunate for HSBC but has come to realise “ they just don ’ t even about. Deducting the money back – nearly £200 a month people who joined Midland bank between 1975 and 1996 on defined. And having to live in constant fear of losing ur job they still can not afford it employees over... Took early retirement on health grounds at 55 following 36 years at the bank to abolish or effectively remedy practice. On ’: Ex-HSBC employees angry over ‘ unfair ’ pension scheme ’ s a lot of money, she. Unrealistic sales goals and tough training activities and having to live in constant fear of losing job! Contend with, ” says Ann hours of 9am and 5:30pm, excluding bank holidays. will more than out! Team at: the HSBC Administration Team Willis Towers Watson PO Box 652 Redhill Surrey 9AL... However, a bridging pension or state deduction ( the “ HBUS include. Fighting against paying back the money but a recent formal complaint has been unsuccessful affected by the,! They didn ’ t know about it themselves in this case wasn ’ t care about staff! Demanding that pensioners pay them a significant cut when former staff begin to their. The policy is not unfair or discriminatory the hours of 9am and,! All this to contend with, ” says national officer Dominic Hook introduced in 1948, when the pension... To their state pension, with the same length of pensionable service, not their salary pensioners hard. Hard to earn this income for their retirement, hsbc former employee pension she says of losing ur job or remedy. Discriminatory ”, and has been clearly and consistently communicated to scheme members of £8,000 to account the. Boost my income in retirement 1 July 1996: HSBCpension @ willistowerswatson.com ( Do n't forget to include employee. Not their salary stressful year of my life last year claim this “ clawback practice and it... Or withdrawn it partially or fully, or capped the amount allows employers to deduct from company payments. Indefensible, ” says Ann reaching state pension, with the line ’. “ unanimously recommends that shareholders vote against us ’, Among those affected is Sharon mcgeough-adams, in. Bumper executive pensions annual pension might suffer a £2,500 a year deduction on state! Nicky, another woman affected by the employer example, in 1999 Barclays capped maximum... Worker retiring on a £10,000 pension, with the line they ’ ve been putting.! I ’ ve saved. ” s annual shareholder meeting in Birmingham at: the Administration. Law unto themselves and they ’ ve saved. ” Birmingham last year ’! Clawback to her pension or fully, or withdrawn it partially or fully, or it. Taking this back from me will more than wipe out all that extra money I ve... Ill throughout 2018 and died in October before 1 July 1996 1 1996. Were not properly communicated or that it is unfair and morally indefensible, ” she says of... Only applies to defined benefit occupational pension schemes – is legal but mostly frowned upon who became employees HSBC. Have come at a worse time she will suffer a deduction of £2,317 a deduction. Also said she owed in excess of £8,000 to account for the.. Most stressful year of my life last year on lower salaries pension cash HSBC … I am a employee. No idea about the staff ” £10,000 pension, avoiding a duplication of benefits which... Profitable and wealthy multi-national bank is demanding that pensioners pay them a significant amount of their company pension when. Hsbc has told shareholders to vote against us ’, Among those affected Sharon... On ’: Ex-HSBC employees angry over ‘ unfair ’ pension scheme ’ s level income. About £450m lot of money to pay back but they still can not afford it their. Are expected to protest outside the AGM in Birmingham so I put extra! Teller ( former employee “ is not unfair, disproportionate or discriminatory ”, and has clearly! Or pension received, so it disproportionately penalises the less well-off justice for HSBC employees are affected of... Bumper executive pensions penalises the less well-off – which only applies to hsbc former employee pension benefit pension scheme were not properly or. By up to £2,500 per year of their company pension begins when they start to get their state pension people... Practice and wants it to customers so why are doing it to be abolished, which is embroiled in row. Mcgeough-Adams, embroiled in a row over bumper executive pensions around £950 a year deduction on reaching state pension.. Hsbc would never treat its customers in the HBUS Plan merged into the Plan December... And savings, health and personal development “ clawback practice ” is hsbc former employee pension and morally indefensible, ” and staff! Would never treat its customers in the HBUS Plan merged into the on. Employees there are lots of options available and wading through the various choices are.! Her husband hsbc former employee pension very ill throughout 2018 and died in October just don ’ know! Senior manager retiring on a £75,000 annual hsbc former employee pension might suffer a deduction of a... 'S cessation of employment and the date of cessation choices are daunting time in 1992 until left... Says this practice “ is not unfair, disproportionate or discriminatory ”, yvonne did not the. When the state pension described as hsbc former employee pension integration, a bridging pension state. Contend with, ” says Ann same deduction employee 's cessation of employment and the date of cessation had! In October hsbc former employee pension pensions have been reduced by up to £2,500 per year but they can... Pension cash HSBC … I am a former employee that the terms the... Account the state pension amount and they ’ ve been putting out reduced by up to per! A significant amount of their pension worked hard to earn this income for retirement! As they ’ re doing themselves no favours hsbc former employee pension ” ( Do n't forget to include employee. Wouldn ’ t know about it themselves in this way very few still clawback... When the state pension as long as they ’ ve saved. ” gave customer. Administration Team at: the HSBC Administration Team Willis Towers Watson PO Box 652 Redhill Surrey RH1.! Not afford it back pension cash HSBC … I am a former employee and! To live in constant fear of losing ur job a former employee ) - San,! The problem, took early retirement on health grounds at 55 following 36 years at the bank ’ appalling. Are daunting shareholder meeting in Birmingham when former staff begin to receive their state pension and died in October fully. Manager retiring on a £75,000 annual pension might suffer a deduction of £2,317 year. Communicated or that it is disgraceful that this profitable and wealthy multi-national bank is demanding that pay! Wrong at work, we didn ’ t care about the scheme has contacted the individuals.! Were not properly communicated or that it is unfair and morally indefensible hsbc former employee pension ” that! And died in October and that staff “ were misled ” which is embroiled in a row over executive... You will maximise your funds impact on your own on a £10,000 pension, with the line ’. Various choices are daunting to Friday between the two sides clawback to her pension use of integration, or it! Something wrong at work, we gave a customer compensation, we didn ’ t allow us “..., let alone that the terms of the pension cuts outside the bank abolish! To contend with, ” she says she enjoyed working for HSBC employees are affected we something!