Bill Winters, the CEO of Standard Chartered, is poised to receive a £13.1 million annual bonus, which starkly contrasts with the average UK salary of £37,430. This increase follows the UK's abolition of the EU bonus cap aimed at curbing excessive risk-taking post-2008 financial crisis. Winters' 2024 pay package is reported at £10.7 million, a 46% increase from the previous year, largely due to a substantial long-term incentive scheme. Standard Chartered has engaged effectively with shareholders regarding this policy revision, emphasizing performance-based compensation.
"I'll have to explain to my mother why my salary has been cut by half... but if we perform well, I'll earn more money."
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