DBS, UOB, OCBC chiefs’ salary packages still lag global peers
The trio of local banks on the STI are smaller in terms of revenue, but appear to be making their money work harder
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[SINGAPORE] Piyush Gupta, who on Mar 28 stepped down as chief executive of DBS after 15 years at the helm, saw his salary package more than double since the start of his tenure.
In his first full-year compensation from DBS in the 2010 financial year, after joining from Citigroup in late 2009, Gupta received a total pay package of S$8 million, including a cash bonus of S$2.7 million.
Last year, Gupta took home S$17.6 million – up 56.5 per cent year on year. This comes after he took a steep 27 per cent pay cut the previous year due to a series of disruptions to DBS’ digital banking services, which brought his total compensation for FY2023 to S$11.2 million.
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