HSBC (HKG:0005) is set to award little or no bonuses to some bankers as the lender moves toward a tougher, performance-linked pay model similar to those used by Wall Street firms, Bloomberg News reported Thursday, citing people familiar with the matter.

The bank is expected to push underperforming staff, including managing directors, in units such as investment banking and wealth management to leave after bonus payments are made in the coming weeks, the report said, adding that final decisions have yet to be made.

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