(18 November 2009 – Australia) The head honchos of the nation’s big four banks will pocket a combined salary of more than A$35 million this year.Mike Smith, chief executive officer, ANZ, who despite taking a A$1.9 million pay cut, will still remain the country’s highest earning banker netting a cool A$10.9 million.
In a close second is Westpac’s Gail Kelly, who will be earning a substantial A$10.62 million in the year to come.
Ralph Norris, Commonwealth Bank will earn more than A$9 million.
John Stewart, who retired last year, received a A$2.75 million special termination payment and was paid around A$7.4 million despite only working for the bank for three months in the financial year to end September 30.
His successor, Cameron Clyne’s package is worth up to A$5.1 million and upon termination Ahmed Fahour received a payout of A$1.6million included in the total A$5.8 million earned.