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HSBC scraps sales incentives for branch staff

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HSBC scraps sales incentives for branch staff

HSBC has joined Barclays and the Co-operative bank by scrapping sales-based invectives for its branch staff with performance instead being measured by customer satisfaction.

The Co-op and Barclays stopped paying branch staff by commission last year.

HSBC said it made the changes, which affect 20,000 staff, at the start of the year.

In September 2012 Martin Wheatley, Financial Services Authority managing director, warned banks to stop treating customers as people to sell to, and unveiled the findings of his review into bank incentive schemes.

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