PHOTO: The Straits Times fileSINGAPORE – UOB chief executive officer Wee Ee Cheong’s salary rose as the bank’s full-year core earnings hit a new record in 2023, but his pay increased at a slower pace.
The report showed that 60 per cent of Mr Wee’s variable pay is deferred, and will vest over the next three years. Of the deferred variable pay, 40 per cent will be issued in deferred cash, while the remaining 60 per cent will be in the form of share-linked units. These earnings excluded one-off expenses from the integration of Citigroup’s consumer banking business in four South-east Asian markets.
Source: News Formal (newsformal.com)
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