Helen Wong, the CEO of Oversea-Chinese Banking Corporation (OCBC) O39 , received an annual salary of $11.2 million for FY2022, 46.8% higher than her salary of $7.6 million in FY2021.
Wong was appointed as the bank’s group CEO on Jan 8, 2021, replacing former CEO Samuel Tsien. She was named the bank’s executive director on Feb 7.
In FY2022, Wong’s total package includes a basic salary of $1.4 million, a bonus of $5.4 million, deferred shares worth $3.6, as well as other benefits worth $782,244.
OCBC had reported record earnings of $5.75 billion for the FY2022 ended Dec 31, 2022, 18% higher y-o-y.
The bank’s earnings grew by 34% y-o-y to $1.3 billion in the 4QFY2022.
In her note, Wong expressed that she was optimistic about China’s faster-than-expected reopening and policy stimulus, which may see a pick-up in trade and investment flows between Greater China and Asean. Wong also expects wealth flows to increase as well.
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Further to her note, Wong adds the bank will continue strengthening its wealth management hub capabilities across Singapore, Hong Kong, Dubai and London. The bank is also looking to enlarge Bank of Singapore’s dedicated family office advisory unit.
“We will also expand our offshore OCBC Premier Private Client and OCBC Premier Banking propositions in key Asian markets,” she says.
As at 11.17am, shares in OCBC are trading 6 cents higher or 0.48% up at $12.45.
