Standard Chartered challenged by investors over chief executive’s pay

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Standard Chartered faces much scrutiny from investors over its chief executive pay, following the changes made to its pension in a way that does not adhere to UK corporate governance standards. In 2019, Bill Winters will receive a pension allowance of £474,000, the highest pay of any chief executive of a large UK listed bank. The Annual Report of Standard Chartered states that this pension allowance is equivalent to 20% of his total salary, which was calculated by combining his cash salary of £1,185,000,000 and share payment of the same amount. However, in 2018, the pension allowance was calculated by basic cash salary solely.

The Financial Times, David Crow and Owen Walker, March 25th 2019