Home Business NewsFinance News Thought Hester's bonus was bad? Check out the other FTSE 100 finance CEOs' packages

Thought Hester's bonus was bad? Check out the other FTSE 100 finance CEOs' packages

by LLB Editor
10th Feb 12 8:21 am

We’ve gone through the pay packages of all FTSE 100 CEOs in the financial sector to help you decide whether Hester’s bonus was really so extravagant. So, should the Hester pestering continue?

1. Michael Spencer, chief executive, ICAP

Bonus: £4.1m

Michael Spencer, CEO, ICAP

Total package: £7.6m

Annual salary: £0.36m

Benefits: £3,984

Bonus in lieu of the dividend on Bonus share matching plan (BSMP) award: £955,635

Michael Spencer took home a £3.15m bonus for the year ended March 31, 2011. Add to this the £0.9m BSMP bonus awarded, and you might wonder why the fatcat police didn’t feel the need to frisk his take-home too.

2. Stuart Gulliver, group chief executive, HSBC

Bonus: £3.75m

Stuart Gullliver, chief executive, HSBC

Total package: £13.3m

Annual salary: £1.25m

Other:  A long-term incentive payment equal to six times his salary

HSBC’s head honcho is expected to receive a mammoth £3.75m bonus that is three times his base salary. In light of the bonus hullabaloo of late and the fact that HSBC got a whopping great fine last year for mis-selling, does the public and government think Gulliver should also renounce the bountiful bonus? Funnily enough, we haven’t heard any bear-baiting on this one.

Watch out for the HSBC annual report hitting headlines on 27 February for the latest info.

3. Michael Dobson, chief executive, Schroders

Bonus: £3m

Michael Dobson, chief executive, Schroders

Total package: £3.4m

Annual salary: £0.4m

Other: A cash payment of £58,000 and benefits in kind worth £9,000

Dobson took home a £3m bonus over his £0.4m salary in 2010. Watch out for the annual report coming out on 8 March for his 2011 take-home.

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4. Antonio Horta-Osorio, chief executive, Lloyds TSB

Bonus: £2.4m – waived

Antonio Horta-Osorio, chief executive of Lloyds

Total package: £6. 2m

Annual salary: £1.06m

Antonio Horta-Osorio declined a bonus last month after he returned to work following a two month absence due to fatigue. Horta-Osorio took over from JE Daniels as chief executive in January 2011. Daniels took home a bonus worth £1.45m last year on top of his £1m pay deal (a total of £2.57m for Daniels in 2010).

5. Bob Diamond, chief executive, Barclays Bank

Bonus: £900,000 to £2m

Bob Diamond, chief executive, Barclays Bank

Total package: £10m

Annual salary: £1.35m

Other: Shares of up to five times his £1.35m salary

Diamond will definitely not strike gold this year. Why? Barclays performance is slightly down on last year, so his cash bonus ought to be somewhere between £900,000 and £2m – peanuts compared to the £6.5m bonus he took home last year. So will this “£100m banker” waive his bonus this year? Hmmm.

6. Peter Clarke, executive director, Man Group

Bonus:  $1,750,000 (£1.1m)

Peter Clarke, Man Group

Total package: $2,696,000 (£1.7m)

Annual salary: $925,000 (£0.58m)

Other: Benefits of $21,000 (£13,228)

Clarke’s base salary and bonus is almost three times less than the other bonus bravados. He got a performance cash bonus worth $750,000 (£0.47m) and a performance bonus with mandatory deferral worth $1m (£0.63m).

7. Stephen Hester, chief executive, RBS

Bonus: £1m

Royal Bank of Scotland CEO Stephen Hester

Total package: £7.38m

Salary: £1.2m


£4.8m long-term incentive plan

£420,000 in pension contributions

Hester was in line to get 3.6 million shares worth £963,000, but declined the bonus after the massive political storm. Hester this week told the BBC that he considered resigning, but chose against it because it would’ve been too “indulgent”.

  • Charles Orton-Jones: Why Hester deserves every penny of his bonus

8. Peter Sands, group chief executive, Standard Chartered

Bonus: $0.7m (£0.44m)

Peter Sands, Standard Chartered

Total package: $7,800,000 (£4.9m)

Annual salary: $1,544,000 (£0.97m)


Benefits : $115,000 (£72,487)

Share allocation: $700,000 (£441,107)

Deferred shares: $2,100,000 (£1.3m)

Sands takes home a £0.44m bonus which is far less than his financier peers in the FTSE100. Is that a good or bad thing? We’ll leave it to you to decide.

So what do you think of Hester’s bonus compared with the other FTSE 100 CEOs? Let us know in comments below

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