Banking News

Clyne receives small pay rise to $8.8m

Clyne receives small pay rise to $8.8m

(21 November 2012 – Australia) Despite National Australia Bank (NAB) posting a drop in profit this year, chief executive Cameron Clyne received a small pay rise to A$8.8 million, up 1.2 percent from last year’s $8.68 million. Clyne is the third highest paid bank boss in Australia, behind ANZ’s Mike Smith, and Westpac’s Gail Kelly.

The NAB annual report showed Clyne received an additional A$1.5 million in new share options on top of the A$3.2 million worth of shares awarded in previous years as part of short-term and long-term incentive programs.

The report also showed pay for other senior executives at the bank remained relatively steady from the previous year.
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