A Sunday Times Rich List published at the end of last year, shows how well compensated the banking fraternity is in South Africa.
The paper showed that joint-CEO at Swiss luxury goods company Compagnie Financiere Richemont SA, Bernard Fornas, was the biggest earning executive in the country with a total annual pay package of R88 million.
However, the country’s banking executives are well represented on the list, starting with Investec CEO, Hendrik du Toit – 2nd- who received a R78 million bonus, along with a ‘modest’ salary of R7 million, taking his total to R86 million.
His employer, Investec, said the bonus was nothing out of the ordinary, adding that it was comparable to his peers abroad in the investment space.
BusinessTech has compiled a list of the top 10 paid baking related bosses in South Africa, as contained in the Sunday Times Rich List.
10 Top earnings bankers
|1||Hendrik du Toit||Executive Director Investec||R78m||R86m
|2||Ingrid Johnson||Financial Director Old Mutual||R3.1m||R33.4m/R35.6m
|3||Julian Roberts||CEO Old Mutual||R16.3m||R33.43m/R33.95m
|4||Sizwe Nxasana||CEO FirstRand||R10m||R18.5m
|5||Alan Pullinger||Deputy CEO FirstRand||R15m||R17.74m
|6||Johan Burger||CEO FirstRand||R9m||R17.71m|
|7||Sim Tshabalala||CEO Standard Bank||R7.34m||R16.24m
|8||Bernard Kantor||MD Investec||R7.5m||R15m
|9||Bruce Hemphill||Director Standard Bank||R8.15m||R14.3m
|10||Craig Bond||Manager Barclays||R3.2m||R14.3m
BusinessTech published the the salaries of the country’s top paid retail banking executives in October.
Retail banking CEO salaries
|#||Bank||CEO||Base salary||Total package|
|4||Standard Bank||Sim Tshabalala||R7.74m||R24.3m|
|5||Standard Bank||Ben Kruger||R7.35m||R19.01m|
* Full year, 2015