Richest banking executives in South Africa

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

# Name Company Bonus Total pay
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
1 Nedbank Mike Brown R7.05m R35.1m
2 FirstRand Sizwe Nxasana R9.1m R33.4m*
3 Absa Maria Ramos R6.979m R28.57m
4 Standard Bank Sim Tshabalala R7.74m R24.3m
5 Standard Bank Ben Kruger R7.35m R19.01m
6 FNB Jacques Celliers R6.17m R16.57m*
7 Capitec Gerrie Fourie R6.408m R10.33m*

* Full year, 2015

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Richest banking executives in South Africa