HSBC Reviews $38,000-Per-Kid School Fee Perk for Hong Kong Bankers

HSBC Holdings Plc is reviewing a long-standing perk that covers school fees for a swath of bankers in Hong Kong as part of a broader push to standardize benefits globally and reduce costs, according to people familiar with the matter.

The London-headquartered bank is considering options including scrapping the perk for new joiners or adjusting total compensation, the people said, asking not to be identified discussing internal deliberations. HSBC has been reviewing the benefit for some time and no decisions have yet been made, they said.