September 1, 2001
Sir John Bond is known to be a skinflint. The chairman of HSBC Holdings, the London-based international financial group, travels to work on the city's grimy and overcrowded subway system. Thrift is part of the bank's culture. It only pays for executives to fly economy class. Bond is also stingy with executive pay. Last year he was the bank's highest-paid director, with a package worth £1.6 million ($2.6 million). This is positively frugal for a man who runs the world's second-largest bank. In comparison, Citigroup Chairman Sandy Weill earned $19.9 million last year.
Bond is clearly no get-rich-quick banker. He scorns speculators - whom he once referred to as "people in colorful su
Sir John Bond, chairman of HSBC Holdings, says the international financial community should create an environment in which markets can function more effectively.