Standard Authorized CEO Bill Winters says Bonus Kap has led to the salary of the “Grotesque” salary

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Standard Chartred Director Bill Winters said that the EU restriction on the banker bonuses created poor incentives, because the London lender used the abolition of the UK to reduce the salary by 40 percent in favor of increasing its potential bonus.

“The effect [bonus cap] Did everyone get a grotesque increase in a fixed wage, “he said on Friday with the reporters.” I say grotesque because it was a wrong impetus. . . Squeeze the coupons and do not do a very good job. “

Winters, by far the longest -serving director of British Bank, would earn £ 13.1 million this year, more than twice as much as he earned in 2022, if he fulfilled all the goals, but his basic salary would fall. “I will have to explain to my mother why my salary is reduced in half,” Winters joked at the invitation.

“My motivation to Chartred’s standard has never been in a relationship with a salary,” he said. Instead, he said, it’s a “part of a fantastic franchise.”

Payment package to pay the Winters 2024. In the amount of £ 10.7 million, it was almost 50 percent higher than the previous year due to the payment of a stimulating plan.

The salary of Chief Financial Director Diego de Giorgi will be reduced by 33 percent according to the new model, with its total package worth up to £ 7.7 million if the goals are filled. 2024 earned £ 2.8 million.

Stand Remont said, who announced on Friday with annual results, “is the most significant change for many years” in the way the best staff are paid.

Barclays and HSBC have taken similar steps In order to reduce fixed wages for older executives and increase bonuses related to performance.

The UK announced plans to abolish the cap in 2023, part of the plan after Brexit to strengthen the City of London. The EU has introduced a limit as an attempt to suppress risk after the 2008 financial crisis.

Stanchart’s profit before taxation, 30 percent fell 30 percent in the last three months last year due to growing costs, even if his companies of wealth and market generated higher revenues.

The bank reported the law prescribed before taxing of $ 800 million for the fourth quarter, which is a drop of $ 1.1 billion a year earlier and missing analysts of $ 983 million analysts. Its fundamental profit before taxation, adapted to considering restructuring and other costs, was $ 1 billion, in accordance with analyst estimates.

Winters said that the results for the whole year, which reported profit before tax, rose by 19 percent, at $ 6 billion, were “strong”.

“Our strategy. . . shoots at all cylinders, “said Winters, who has been running a bank since 2015. Stanchart said in October that he would double investment In his business, managing wealth and redirects his focus from smaller domestic clients according to global institutions.

The bank announced a $ 1.5 billion share of a stake in the amount of $ 1.5 billion and said she was planning to pay back at least $ 8 billion to shareholders cumulatively from 2024 to 2026.

The interest of interest rates for the year amounted to $ 10.4 billion, beating the target of the bank in the amount of $ 10.25 billion, even as a period of growing rates.

Stanchart has taken the costs of restructuring in the amount of $ 441 million a year, including $ 156 million for its cost savings program, known as “grown suitable”. The bank said she planned to save about $ 1.5 billion last year during a three -year -old system simplifying.

His wealth, a key focus for the bank, reported on a 36 percent increase in a 36 percent revenue, while those in his unit on the market increased by 47 percent because they jumped from trading revenues.

The basic refund of the bank to the tangible capital, the profitability measure, was 11.7 percent of the year, which is increasing 10.1 percent a year earlier. Increased its goal in 2026. From 12 percent to “approaching 13 percent”.

Stanchart shares have now surpassed the level they were when Winters took the helm, increasing more than 80 percent of complained about their “shit” price A year ago.

However, the shares continue to trade with the discount on the Bank’s book value. His shares on the Hong Kong list rose on Friday by 1 percent before they reduced profits by 0.4 percent.

This month, she called Maria Ramos, a current member of the Stanchart Committee of the former Executive Director of Southern African Bank Absa, as her next chairman.

In 2019, Winters attacked “immature” investors who organized a protest for his salary.