OCBC Bank: S$10.4 Million Package for CEO

Samuel N.Tsien CEO OCBC

Samuel N.Tsien CEO OCBC

Samuel Tsien, the Chief Executive Officer of Singapore’s second largest bank, has joined his DBS and UOB counterparts – at least in the compensation stakes.

According to the bank’s 2015 annual report entitled «Powering Growth Across the Region», OCBC-CEO Samuel Tsien took home an impressive sum, although his base salary was unchanged from the previous year at S$1.24 million. 

The largest block of the reward came via a bonus payment of S$5.5 million, he was also granted options of 1,024,798 shares with the acquisition price of S$8.81 and deferred share awards of S$2.8 million and along with other benefits his total comp swelled to over S$10.4 million, an increase of 6.1 per cent from the year before.

Other Bank CEO's

For the full year 2015 OCBC posted a net profit of S$3.9 billion.

Both of Singapore's other domestic banks, DBS and UOB are expected to publish their annual reports later this week, which will reveal the compensation details of their own Chief Executives, namely Piyush Gupta and Wee Ee Cheong.  

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