“The compensation of our senior management is determined by our group’s balanced scorecard which includes metrics for financial outcomes, as well as strategic and business drivers," says a UOB spokesperson. "The board takes into account various factors when determining the CEO’s compensation. These include taking a long-term view in building the bank, the group’s achievement against its goals and the CEO’s overall performance as assessed by the board."
United Overseas Bank’s (UOB) deputy chairman and CEO Wee Ee Cheong has received a total remuneration of $15.05 million for the FY2024 ended Dec 31, 2024, 6% lower compared to his total salary of $15.9 million in FY2023.
Wee’s basic salary rose from $1.2 million in FY2023 to $1.44 million in FY2024, although his bonus fell to $13.56 million in FY2024 from $14.69 million the year before. Benefits-in-kind and others, which includes transport- and events-related benefits, grew to $46,944 this year, from $39,701 in 2023.
