Hang Seng Bank CEO's pay rises 9pc to $21.6m

Hang Seng Bank (0011) chief executive Diana Cesar's annual salary jumped by 9.5 percent to more than HK$20 million last year after the lender's net profit rebounded.

Cesar received a total of HK$21.65 million last year, versus HK$19.77 million one year ago. Of the package, part of her salary and benefits and in-kind income rose slightly by 1.36 percent year-on-year to HK$9.96 million.

Chief financial officer Saw Say Pin's total remuneration for last year amounted to HK$6.55 million, up nearly sixfold rise compared with the previous year.

Saw joined Hang Seng Bank from The Hongkong and Shanghai Banking Corporation at the end of the previous year.

Hang Seng Bank's net profit jumped 58 percent yearly to HK$17.8 billion last year benefiting from the high-interest rates and the economic recovery.

It declared a fourth interim dividend of HK$3.2 per share.

In other banking news, The Hongkong and Shanghai Banking Corporation has launched a gold-digitalized product called HSBC Gold Token for local retail investors as the precious metal is favored amid rising geopolitical tensions.