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Bank CEOs in Asia Pacific are Taking Home Less Pay in 2009
The Asian Banker CEO special report sponsored by Hay Group shows that
banks CEOs in
* Australian banks pay their CEOs more than any others in Asia-Pacific,
while Chinese banks pay executives modestly despite being the world's
most profitable
* Performance-based remuneration becoming more important in Asia-Pacific
* Total pay has come down 11.3% since 2007 for the ten top-paid CEOs
The Asian Banker has released its latest evaluation of executive
compensation today, a report sponsored by global management consultancy Hay
Group. The survey has shown that, while the compensation of
"
According to
Australian banks pay their CEOs more than any others in
Of the nine Australian banks in the ranking, seven are in the top ten,
including the top four spots. ANZ's
According to
But in terms of earning power, big doesn't necessarily mean best-paid, and
even the president of state-owned ICBC-the most profitable bank in the world
in 2008-received a relatively modest
The Asian Banker first published a ranking of the 50 best-paid CEOs (or
their equivalents) in 2007. At that time, the listings were led by then-CEO of
Macquarie Bank Alan Moss, who took home
Performance-based remuneration becoming more important
The top five bank CEOs in the ranking for performance-based remuneration as a percentage of total remuneration are all new appointees, indicating that performance is a major negotiating issue when it comes to succession. Performance has moved up in scale in most of the chart for established and new CEOs alike, especially in the top half. But this is not the case for the new CEOs of UOB and Macquarie Group, however: although they are at the top of this table at 91.6% (position 1) and 86.9% (position 4) respectively, they actually have lower percentages than their predecessors.
Banks in
Total pay has come down 11.3% since 2007 for the ten top-paid CEOs
In a difficult year, it is understandable that CEO pay will come down,
especially for the six bankers who rely on performance for more than 75% of
their total remuneration. In our 2009 survey, the fifty best-paid CEOs
received a total of
Read the full report at http://www.thebankingacademy.com/CEOreport.pdf
About The Asian Banker
The Asian Banker is the foremost provider of strategic business
intelligence in the financial services industry in the
For more information, please go to http://www.haygroup.com/sg/press or contact:
Ananya Dutta
The Asian Banker
Email: dananya@theasianbanker.com
Tel: +65-6236-6174
Michelle Low
Hay Group Asia
Email: michelle.low@haygroup.com
Tel: +65-6323-1668
Mwamba Kasanda
Hay Group Pacific
Email: mwamba.kasanda@haygroup.com
Tel: +61-3-9667-2618
Henry Sheng
Hay Group Greater China
Email: henry.sheng@haygroup.com
Tel: +86-21-6279-8832
SOURCE The Asian Banker
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RELATED LINKS
http://www.haygroup.com/sg/press
http://www.theasianbanker.com
http://www.thebankingacademy.com/CEOreport.pdf
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