Menu
Cuzz Media

Cuzz Media

Cuzz Media is part of t...

NAB VICTIM

NAB VICTIM

In late 2008 we became vi...

Banking In Australia Today

Banking In Australia Today

Visit Banking in Austra...

Donate Please

Donate Please

We need your support. ...

Prev Next

ANZ's CEO pay closes in on $11m

ANZ's outgoing chief executive Mike Smith annual pay packet has ticked higher to just under $11 million. ANZ's outgoing chief executive Mike Smith annual pay packet has ticked higher to just under $11 million.
ANZ's outgoing chief executive Mike Smith annual pay packet has ticked higher to just under $11 million.

Mr Smith, who is stepping down in January, had his total remuneration increased to $10.8m in fiscal 2015, up from $10.4m the previous year.

His cash salary rose slightly to $3.3m while his cash bonus was held steady at $2.05m.

Mr Smith, who is one of Australia's top paid executives, also stands to receive up to $1.9 million worth of ANZ shares, down from $5.35m in the previous year.

The ANZ boss's pay dwarfed that of his counterpart at the Commonwealth Bank, Ian Narev, whose pay fell to just under $8m.

Westpac and National Australia Bank are yet to reveal what their senior executives were paid in 2014-15.

Mr Smith's pay packet continues to outsize those received by the bosses of the country's other largest companies -- BHP Billiton and Rio Tinto.

BHP's boss Andrew Mackenzie's pay fell more than 40 per cent to $US4.58m in 2014-15 while Rio boss Sam Walsh's remained fairly steady around $9m.

In October, Mr Smith presented his final set of financial results for ANZ before he hands over to chief financial officer Shayne Elliott on January 1.

But while ANZ's net profit rose three per cent to a record $7.49 billion and its cash profit lifted one per cent to $7.22bn, shareholders were disappointed the bank held its final dividend flat at 95 cents a share.

Source: Business Spectator Financial Services

Leave a comment

Make sure you enter all the required information, indicated by an asterisk (*). HTML code is not allowed.

back to top

News

Major Topics

Helpful Resources

Socialize

About Us