OCBC chief Helen Wong's 2023 pay rises to $12.lm

OCBC Bank group chief executive Helen Wong's pay rose in 2023 as her bank's full-year earnings reached a new high, according to disclosures in its annual report released on April 5.

- Prisca Ang

Ms Wong's annual pay for the year came in at $12.1 million, an 8 per cent increase from the $11.2 million she earned in 2022.

Her remuneration overtook that of Mr Piyush Gupta, CEO of Singapore's largest bank DBS, who took home $11.2 million in 2023. This was a drop of 27 per cent from the $15.4 million he was paid in 2022.

The 2023 variable compensation for Mr Gupta and other members of DBS' group management committee was cut to hold them accountable for a series of digital disruptions in the bank's services in 2023.

The highest paid among the local bank chiefs was UOB's Mr Wee Ee Cheong with $15.9 million, a 12 per cent increase from the $14.2 million he earned in 2022.

Ms Wong's annual remuneration comprises a base salary of $1.44 million, unchanged from 2022. She also received a bonus of $6.35 million, deferred shares amounting to $4.24 million and other benefits, such as club and car benefits, worth $69,900.