Nah beh! This Ah Neh deserves to be paid 4 times more than PM Lee?

[RonRon]

SINGAPORE: Southeast Asia's largest bank by capital DBS paid its CEO Piyush Gupta a total compensation of S$8.08 million in financial year 2011.

Mr Gupta's pay climbed almost 10 per cent as compared to financial year 2010, of S$7.35 million.

However, with the inclusion of the value of retention award or "kicker shares" of S$773,000, this would bring Mr Gupta's total package for financial year 2011 to S$8.81 million.

Although the lender's profit last year climbed to a record S$3.04 billion, staff costs also gained 20 per cent to S$1.71 billion on expanded manpower.

This could make Mr Gupta to be the highest-paid CEO in a Singapore bank.

Separately, Singapore's second-biggest lender OCBC paid its outgoing CEO David Conner S$7.08 million in 2011.

But he is entitled to receive some 488,029 shares upon the completion of his contract that is valued at S$4.3 million, based on Thursday's closing of S$8.85.

Mr Conner will retire next month as OCBC's CEO and will be succeeded by Mr Samuel Tsien.

Details of United Overseas Bank CEO Wee Ee Cheong's compensation package for 2011 has yet to be disclosed.

But he was paid a remuneration of between S$8 million and S$8.25 million in 2010.

- CNA/wk

 

[tua lam pah]

spore as a country is being raped by the foreigners and the pappies...more good years

 

[LeMans2011]

People in power enriching themselves... major shareholders having representation in BOD installing their choiced CEO to carry out their wishes hence rewarding him handsomely. That Carly Fiorina got herself a payrise from a few million to eighty over million after pulling off the successful acquisition of Compaq computers which is a worthless business and HP has now spun it off.

The American MNCs CEO payscales are used as reference but that is the worst standard to use... no corporates are more corrupted them the American MNCs if you look at how the whole corporate banking sector fooled the whole world... i cannot recall any of the big banks which were not implicated in the fallout/crises