Singapore-based OCBC Group gives its Group CEO a substantial pay increase following the net profit growth it reported in 2022.
Helen Wong, the group CEO of OCBC, saw her total remuneration rise by almost half (46.7 percent) to S$ 11.19 million ($8.428 million), according to the bank’s 2022 annual report.
Wong’s total remuneration last year consisted of S$ 1.4 million in salary, a S$ 5.85 million bonus, and S$ 3.59 million in deferred shares.
She also received S$ 782,244 in other benefits. These comprised several non-cash components, including club, car benefits, and director car parking lots. It also includes the value of shares and cash rewarded for any loss in compensation from her previous employer.
In 2021, Wong received S$ 7.63 million in total remuneration. Her salary increase is in line with OCBC Group’s net profit which rose 18 percent to S$ 5.75 billion in 2022.
