HSBC chief executive officer (CEO) has announced that he intends to donate his 2009 bonus to several children's charities.
His announcement comes following public criticism about the size of the bonuses received by some bankers.
The bonus Mr Geoghegan is expected to receive is around four times his £1.1 million annual wage.
Once the CEO has accepted his bonus from the organisation he will give the cash to charities over the next five years.
Peter Sands, head of Standard Chartered, has also revealed he will donate his bonus to charity, according to the Daily Telegraph.
A total of £1.5 billion is expected to be paid by HSBC to its investment banking staff.
The company, which recently reported a 56 per cent rise in annual profit, will not increase the salaries of Mr Geoghegan and finance director Douglas Flint by 40 per cent as a result of shareholder protest.
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