Big bank CEO’s get $9 million each

ANZ is the most generous of the four big banks in the pay it gives to its chief executive officer. ANZ's Mike Smith takes home as much as $9 million per year in a deal negotiated when he was appointed last October. NAB's Cameron Clyne, who takes over as chief executive on January 1, will take home a minimum of $7.5 million and a maximum of $8.75 million in his first year, depending on the performance of the bank. Westpac's new chief executive Gail Kelly has a deal worth $8.5 million. Commonwealth Bank's CEO Ralph Norris will pocket $8.66 million this year, more than two million in addition to what he received last year.

Source: Sydney Morning Herald

Advertisement