CORRECTION: OCBC CEO’s salary slips compared with predecessor’s

OCBC building in Signapore’s central business districtOCBC building in Signapore’s central business district. Photo taken pre-Covid.

CORRECTION: This article originally incorrectly compared Helen Wong’s salary with her predecessor. Her salary was lower compared with her predecessor. 

This item was originally published on finews.asia.

OCBC’s first female chief executive Helen Wong saw her salary slip compared to predecessor Samuel Tsien’s last year with the bank despite significantly stronger annual earnings.

OCBC CEO Helen Wong’s salary totaled S$7.6 million (US$5.6 million) for her term as CEO from 15 April 2021, as well as her role as deputy president from 1 January to 14 April 2021, according to the Singaporean bank’s annual report. 

Wong’s compensation package includes a base salary of S$1.1 million, a S$2.9 million bonus, S$2million in deferred shares and S$1.6 million in other benefits, including club and car benefits.  

Pre-Covid profit

Wong’s salary slipped compared to her predecessor, Samuel Tsien, whose S$8.6 million pay was earned in a year the bank performed relatively weaker – 2020 net profit fell 26.3 percent compared to the 35 percent increase in 2021.

At Singapore’s other ‘big three’ banks, DBS CEO Piyush Gupta received S$13.6 million and UOB CEO Wee Ee Chong received S$10.9 million for their annual salaries. 

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