Nuts whole hazelnuts, hmmmmm.
Bloomberg News reports that Rees, 59, the architect of Standard Chartered’s corporate and investment bank, earned $6.95m last year on top of the $65m awarded in the period 2009 to 2013, more than departing CEO Peter Sands at $5.1m, according to company filings.
The firm’s returns on equity and assets, measures of profitability, have slumped over the past six years.
'From a shareholder perspective this is utterly nuts, because you’ve got a senior executive getting whacking great payments even when performance is worse than peers', said Chris Roebuck, a visiting professor at Cass Business School. 'Investors need to get a grip and pressure the board to make performance measurements for executives reflective of the real performance of the business'.
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