{"id":100886,"date":"2015-10-12T10:03:42","date_gmt":"2015-10-12T08:03:42","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=100886"},"modified":"2015-10-12T10:03:42","modified_gmt":"2015-10-12T08:03:42","slug":"highest-paid-banking-ceos-in-south-africa","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/banking\/100886\/highest-paid-banking-ceos-in-south-africa\/","title":{"rendered":"Highest paid banking CEOs in South Africa"},"content":{"rendered":"

FirstRand has released its integrated report for 2015, revealing how much its top executives took home in the latest financial year.<\/p>\n

Six FirstRand executives took home over R128 million in combined salaries in 2015, including a R33.4 million payout for exiting CEO Sizwe Nxasana – a 13.3% increase from 2014.<\/p>\n

Over the past six years, Nxasana’s salary has increase at an average annual rate of 22.5%, having climbed from R9.9 million in 2009.<\/p>\n

Under Nxasana, FirstRand’s earnings have grown by a 23% CAGR. The CEO stepped down from the position at the end of September 2015, and has been replaced by his former deputy CEO Johan Burger.<\/p>\n

In 2015, FNB CEO Jacques Celliers saw his salary increase 22.6% to R16.6 million, from R13.5 million in 2015.<\/p>\n

Banking CEO salaries<\/h3>\n

While Nxasana’s salary jump was significant, it still doesn’t reach the levels of Nedbank’s Mike Brown, whose 2014 salary remains the highest among banking executives in the country.<\/p>\n

When taking specialty banks into account, Investec CEO Stephen Koseff trumps all others with a 3.97 million pound salary in 2015 – which equals R81 million.<\/p>\n

The financial years for Nedbank, Standard Bank, and Absa end on 31 December 2015, so salary data is from the 2014 financial year.<\/p>\n

Banking CEO salaries, in ZAR millions<\/h3>\n
\n
\n\n\n\n\n\n\n\n\n\n
Bank<\/th>\nCEO<\/th>\nBase salary<\/th>\nTotal package<\/th>\n<\/tr>\n
Nedbank<\/td>\nMike Brown<\/td>\n7.050<\/td>\n35.050<\/td>\n<\/tr>\n
FirstRand<\/td>\nSizwe Nxasana<\/td>\n9.093<\/td>\n33.423*<\/td>\n<\/tr>\n
Absa<\/td>\nMaria Ramos<\/td>\n6.979<\/td>\n28.571<\/td>\n<\/tr>\n
Standard Bank<\/td>\nSim Tshabalala<\/td>\n7.738<\/td>\n24.278<\/td>\n<\/tr>\n
Standard Bank<\/td>\nBen Kruger<\/td>\n7.352<\/td>\n19.010<\/td>\n<\/tr>\n
FNB<\/td>\nJacques Celliers<\/td>\n6.172<\/td>\n16.572*<\/td>\n<\/tr>\n
Capitec<\/td>\nGerrie Fourie<\/td>\n6.408<\/td>\n10.325*<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<\/div>\n

* Full year, 2015<\/small><\/p>\n

More on banking<\/h3>\n

PIN-less banking coming to SA<\/a><\/strong><\/p>\n

Things South Africa is good at: banking, mobile and regulation<\/a><\/strong><\/p>\n

High banking fees take the shine off tax-free savings<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

FirstRand has released its integrated report for 2015, revealing how much its top executives took home in the latest financial year.<\/p>\n","protected":false},"author":10,"featured_media":85335,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[961],"tags":[10335,4088,26,4564],"class_list":["post-100886","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking","tag-banking","tag-firstrand","tag-headline","tag-salary"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/100886","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=100886"}],"version-history":[{"count":3,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/100886\/revisions"}],"predecessor-version":[{"id":100892,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/100886\/revisions\/100892"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/85335"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=100886"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=100886"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=100886"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}