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 have yet to be disclosed.
But he was paid a remuneration of between S$8 million and S$8.25 million in 2010.
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 have yet to be disclosed.
But he was paid a remuneration of between S$8 million and S$8.25 million in 2010.
