UOB CEO Wee Ee Cheong’s 2023 pay rises 12% to $15.9 million

News Snapshot:

SINGAPORE – UOB chief executive Wee Ee Cheong’s salary rose as the bank’s full-year core earnings hit a new record in 2023, but his pay increased at a slower pace. Mr Wee’s annual pay for the year came in at $15.9 million, a 12 per cent increase from the $14.2 million he earned in 2022. His annual remuneration comprises a base salary of $1.2 million, unchanged from 2022, as well as a bonus of $14.7 million, and benefits-in-kind and other transport-related benefits amounting to $39,700. In an annual report on March 21, Singapore’s third-largest bank noted that 60 per cent...