StanChart CEO Bill Winters’ pay increases to US$10 million

STANDARD Chartered chief executive officer Bill Winters saw his total pay package rise 22 per cent in 2023. 

Winters’ total remuneration climbed to US$9.9 million last year, from £6.4 million (S$10.89 million) in 2022, according to the London-based firm’s annual report released on Friday (Feb 23). 

Standard Chartered’s biggest rival HSBC Holdings this week said CEO Noel Quinn’s total compensation nearly doubled to £10.6 million in 2023. Bonuses across the industry have been tepid amid weak deal flow and job cuts. 

Standard Chartered shares have languished under 62-year-old Winters and currently trade well below where they were when he took the helm in 2015. Souring loans tied to Chinese commercial real estate have weighed on the firm in recent years and has forced it to set aside a bigger capital buffer. BLOOMBERG