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Coffeeshop Chit Chat - OCBC Ang Moh CEO paid $6.7m </TD><TD id=msgunetc noWrap align=right> </TD></TR></TBODY></TABLE><TABLE class=msgtable cellSpacing=0 cellPadding=0 width="96%"><TBODY><TR><TD class=msg vAlign=top><TABLE border=0 cellSpacing=0 cellPadding=0 width="100%"><TBODY><TR class=msghead><TD class=msgbfr1 width="1%"> </TD><TD><TABLE border=0 cellSpacing=0 cellPadding=0><TBODY><TR class=msghead vAlign=top><TD class=msgF width="1%" noWrap align=right>From: </TD><TD class=msgFname width="68%" noWrap>makapa <NOBR></NOBR> </TD><TD class=msgDate width="30%" noWrap align=right>10:46 pm </TD></TR><TR class=msghead><TD class=msgT height=20 width="1%" noWrap align=right>To: </TD><TD class=msgTname width="68%" noWrap>ALL <NOBR></NOBR></TD><TD class=msgNum noWrap align=right> (1 of 1) </TD></TR></TBODY></TABLE></TD></TR><TR><TD class=msgleft rowSpan=4 width="1%"> </TD><TD class=wintiny noWrap align=right>30888.1 </TD></TR><TR><TD height=8></TD></TR><TR><TD class=msgtxt>Mar 31, 2010
OCBC CEO paid $6.7m
<!-- by line -->By Francis Chan
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OCBC Bank's chief executive David Conner earned $6.76 million last year. In 2008, his package was just shy of $4 million. -- PHOTO: BT
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OCBC BANK's chief executive David Conner earned $6.76 million last year. In 2008, his package was just shy of $4 million.
He received $1.24 million in salary and fees, while bonuses and deferred shares granted were worth $2.62 million and $2.85 million respectively, apart from other benefits.
Singapore's longest-established bank disclosed details of its American CEO's remuneration package yesterday in its annual report.
Mr Conner's bumper pay packet comes after a record year for OCBC. He led the bank to its best result since the second quarter of 2007, if one-time gains are excluded.
OCBC chairman Cheong Choong Kong's pay package for last year, including salaries and fees, bonuses and share options, was $3.09 million. In 2008, it was between $2 million and $2.25 million.
OCBC's net income for the fourth quarter rose to $502 million, up by 67 per cent from $301 million in 2008. Group net profit for the full year up to Dec31 also rose by 12 per cent to $1.96 billion. After adjusting for one-off divestment gains and tax refunds, core earnings growth was 32 per cent last year.
Read the full story in Wednesday's edition of The Straits Times.
[email protected]
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OCBC CEO paid $6.7m
<!-- by line -->By Francis Chan
<!-- end by line -->
<!-- end left side bar -->
<!-- story content : start -->
OCBC BANK's chief executive David Conner earned $6.76 million last year. In 2008, his package was just shy of $4 million.
He received $1.24 million in salary and fees, while bonuses and deferred shares granted were worth $2.62 million and $2.85 million respectively, apart from other benefits.
Singapore's longest-established bank disclosed details of its American CEO's remuneration package yesterday in its annual report.
Mr Conner's bumper pay packet comes after a record year for OCBC. He led the bank to its best result since the second quarter of 2007, if one-time gains are excluded.
OCBC chairman Cheong Choong Kong's pay package for last year, including salaries and fees, bonuses and share options, was $3.09 million. In 2008, it was between $2 million and $2.25 million.
OCBC's net income for the fourth quarter rose to $502 million, up by 67 per cent from $301 million in 2008. Group net profit for the full year up to Dec31 also rose by 12 per cent to $1.96 billion. After adjusting for one-off divestment gains and tax refunds, core earnings growth was 32 per cent last year.
Read the full story in Wednesday's edition of The Straits Times.
[email protected]
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