SINGAPORE - Standard Chartered chief executive Bill Winters saw his total pay package rise 22 per cent in 2023. 

His total remuneration climbed to £7.8 million (S$13.3 million) in 2023, from £6.4 million in 2022, according to the London-based firm’s annual report released on Feb 23. The payout was the highest since he joined in 2015 when his total remuneration was £8.4 million, including his buyout award. 

StanChart’s biggest rival HSBC Holdings this week said CEO Noel Quinn’s total compensation nearly doubled to £10.6 million in 2023. Bonuses across the industry have been tepid amid weak deal flow and job cuts. 

StanChart’s overall bonus pool fell 1 per cent to US$1.57 billion in 2023. It increased salaries in 2024 by 2.2 per cent on average globally, lower than in 2023, reflecting falling inflation in a number of locations.

Its shares have languished under 62-year-old Winters and currently trade well below where they were when he took the helm in 2015. Souring loans tied to Chinese commercial real estate have weighed on the firm in recent years and has forced it to set aside a bigger capital buffer. BLOOMBERG