{"id":29202,"date":"2025-03-30T16:47:01","date_gmt":"2025-03-30T16:47:01","guid":{"rendered":"https:\/\/www.premium-partners.net\/?p=29202"},"modified":"2025-03-31T06:19:05","modified_gmt":"2025-03-31T06:19:05","slug":"standard-bank-executives-remuneration-increases-and-decreases-a-detailed-report","status":"publish","type":"post","link":"https:\/\/www.premium-partners.net\/fr\/builder\/standard-bank-executives-remuneration-increases-and-decreases-a-detailed-report\/","title":{"rendered":"Standard Bank executives’ remuneration increases and decreases: A detailed report"},"content":{"rendered":"

This post<\/a> was originally published on this site<\/a><\/p>

<\/p>\n

Standard Bank Group CEO Sim Tshabalala\u2019s single figure remuneration increased 7.1% to R89.22 million<\/span> <\/span>in the year to December 31, while that of his former deputy CEO Kenny Fihla, who this month announced his resignation to become CEO of Absa, fell by 3.7% to R67.29m.<\/p>\n

According to the remuneration report of Africa\u2019s biggest bank by assets, released on Friday, Fihla\u2019s cost-to-company was increased <\/span>to R9.5m <\/span>from R8.7m<\/span> <\/span>on September 1, 2024<\/span> <\/span>following his appointment as deputy CEO of the group. His 2024<\/span> <\/span>short-term incentive award reflected both his role as Corporate and Investment Banking CEO until August 2024, and his role as deputy CEO of the group from September 2024.<\/p>\n

Tshabalala\u2019s total single figure was 8.3% short of the maximum payable under the performance parameters of the group\u2019s remuneration policy for his position of R97.32m, which the remuneration report states \u201conly transpires if all targets are exceeded.\u201d However, his performance was far above the \u201con-target\u201d figure of R60.99m.<\/p>\n

Bill Blackie, CEO of Standard Bank\u2019s Business and Commercial Banking (BCB) division, also saw his total remuneration decline, by 5.1% to R43.70m<\/span>.<\/p>\n

Arno Daehnke, chief finance and value management officer at the bank, benefited from a 0.4% increase<\/span> <\/span>in his remuneration to R68.36m<\/span>.<\/p>\n

Funeka Mantjane, CEO of the Personal and Private Banking division, saw her remuneration increase by 10.2% to R65.54m.<\/p>\n

Insurance and Asset Management CEO at the group, Yuresh Maharaj\u2019s remuneration increased by 66.5% to R41.72m.<\/p>\n

Luvuyo Masinda, CEO for Commercial and Investment Banking at Standard, received R12.64m <\/span>based on his performance since his appointment in September 2024<\/span>.<\/p>\n

Chief Operating Officer Margaret Nienaber saw her remuneration increase 4.6% to R62.54m<\/span>. The factors that were rated for her performance provide a good indicator of what might be expected of a banking executive.<\/p>\n

They include an increase in headline earnings – in the bank\u2019s case it was up 4% to R44.5m; return on equity; technology spend contained to R22.4bn <\/span>from R21.6bn <\/span>in 2023; \u201cPriority 1 incidents: 0 (2023: 1)\u201d; 29 successive months of month-end technology stability, with independent indicators improved stability performance relative to South African peers; physical footprint rationalisation (cumulative): 168 000 square metres; net reduction in carbon emissions of 8% year-on-year across the group; and Brand Finance\u2019s most valuable banking brand in Africa and South Africa for the third year in a row.<\/p>\n

Tshabalala\u2019s factors that impacted his remuneration include headline earnings growth, a small decline in return on equity; 19.6 million <\/span>active clients; employee net promoter score: +48 (2023: +48); cost-to-income ratio at 50.5% versus 51.4% in 2023<\/span>; sound capital and liquidity positions, the group was rated as<\/span> <\/span>one of the world\u2019s best employers and the best in Africa by Forbes World\u2019s Best Employers, and the group was rated the best in Africa as<\/span> <\/span>one of Time World\u2019s best companies and Newsweek\u2019s world\u2019s most trustworthy companies.<\/p>\n

Following input by shareholders, a remuneration policy change during the year related to one of the metrics used to assess the long-term incentives (LTI) awards in the Performance Reward Plan (PRP). Although the PRP metrics and weightings remained unchanged, the return on equity metric was amended to a three-year average to reflect performance more fully over the three-year period.<\/p>\n

Remuneration disclosures were also enhanced by expanding individual executive director and prescribed officer disclosures, to demonstrate a clearer link to individual remuneration outcomes, and a more transparent disclosure on the short-term incentive (STI) was awarded.<\/p>\n

Total senior management remuneration increased 2% to R2.01bn<\/span> <\/span>from R1.97bn, while total remuneration for \u201cother material risk takers\u201d increased 1%<\/span> <\/span>to R1.05bn <\/span>from R1.04bn.<\/b><\/span>.<\/p>\n

BUSINESS REPORT<\/strong><\/p>","protected":false},"excerpt":{"rendered":"

Standard Bank Group CEO Sim Tshabalala\u2019s single figure remuneration increased 7.1% to R89.22 million\u00a0in the year to December 31, while that of his former deputy CEO Kenny Fihla, who this month announced his resignation to become CEO of Absa, fell by 3.7% to R67.29m.According to the remuneration report of Africa\u2019s biggest bank by assets, released on Friday, Fihla\u2019s cost-to-company was increased\u00a0to R9.5m\u00a0from R8.7m\u00a0on September 1, 2024\u00a0following his appointment as deputy CEO of the group. His 2024\u00a0short-term incentive award reflected both his role as Corporate and Investment Banking CEO until August 2024, and his role as deputy CEO of the group from September 2024.Tshabalala\u2019s total single figure was 8.3% short of the maximum payable under the performance parameters of the group\u2019s remuneration policy for his position of R97.32m, which the remuneration report states \u201conly transpires if all targets are exceeded.\u201d However, his performance was far above the \u201con-target\u201d figure of R60.99m.Bill Blackie, CEO of Standard Bank\u2019s Business and Commercial Banking (BCB) division, also saw his total remuneration decline, by 5.1% to R43.70m.Arno Daehnke, chief finance and value management officer at the bank, benefited from a 0.4% increase\u00a0in his remuneration to R68.36m.Funeka Mantjane, CEO of the Personal and Private Banking division, saw her remuneration increase by 10.2% to R65.54m.Insurance and Asset Management CEO at the group, Yuresh Maharaj\u2019s remuneration increased by 66.5% to R41.72m.Luvuyo Masinda, CEO for Commercial and Investment Banking at Standard, received R12.64m\u00a0based on his performance since his appointment in September 2024.Chief Operating Officer Margaret Nienaber saw her remuneration increase 4.6% to R62.54m. The factors that were rated for her performance provide a good indicator of what might be expected of a banking executive.They include an increase in headline earnings – in the bank\u2019s case it was up 4% to R44.5m; return on equity; technology spend contained to R22.4bn\u00a0from R21.6bn\u00a0in 2023; \u201cPriority 1 incidents: 0 (2023: 1)\u201d; 29 successive months of month-end technology stability, with independent indicators improved stability performance relative to South African peers; physical footprint rationalisation (cumulative): 168 000 square metres; net reduction in carbon emissions of 8% year-on-year across the group; and Brand Finance\u2019s most valuable banking brand in Africa and South Africa for the third year in a row.Tshabalala\u2019s factors that impacted his remuneration include headline earnings growth, a small decline in return on equity; 19.6 million\u00a0active clients; employee net promoter score: +48 (2023: +48); cost-to-income ratio at 50.5% versus 51.4% in 2023; sound capital and liquidity positions, the group was rated as\u00a0one of the world\u2019s best employers and the best in Africa by Forbes World\u2019s Best Employers, and the group was rated the best in Africa as\u00a0one of Time World\u2019s best companies and Newsweek\u2019s world\u2019s most trustworthy companies.Following input by shareholders, a remuneration policy change during the year related to one of the metrics used to assess the long-term incentives (LTI) awards in the Performance Reward Plan (PRP). Although the PRP metrics and weightings remained unchanged, the return on equity metric was amended to a three-year average to reflect performance more fully over the three-year period.Remuneration disclosures were also enhanced by expanding individual executive director and prescribed officer disclosures, to demonstrate a clearer link to individual remuneration outcomes, and a more transparent disclosure on the short-term incentive (STI) was awarded.Total senior management remuneration increased 2% to R2.01bn\u00a0from R1.97bn, while total remuneration for \u201cother material risk takers\u201d increased 1%\u00a0to R1.05bn\u00a0from R1.04bn..BUSINESS REPORT<\/p>","protected":false},"author":1,"featured_media":12675,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-29202","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-builder"],"_links":{"self":[{"href":"https:\/\/www.premium-partners.net\/fr\/wp-json\/wp\/v2\/posts\/29202","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.premium-partners.net\/fr\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.premium-partners.net\/fr\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.premium-partners.net\/fr\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.premium-partners.net\/fr\/wp-json\/wp\/v2\/comments?post=29202"}],"version-history":[{"count":1,"href":"https:\/\/www.premium-partners.net\/fr\/wp-json\/wp\/v2\/posts\/29202\/revisions"}],"predecessor-version":[{"id":29203,"href":"https:\/\/www.premium-partners.net\/fr\/wp-json\/wp\/v2\/posts\/29202\/revisions\/29203"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.premium-partners.net\/fr\/wp-json\/wp\/v2\/media\/12675"}],"wp:attachment":[{"href":"https:\/\/www.premium-partners.net\/fr\/wp-json\/wp\/v2\/media?parent=29202"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.premium-partners.net\/fr\/wp-json\/wp\/v2\/categories?post=29202"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.premium-partners.net\/fr\/wp-json\/wp\/v2\/tags?post=29202"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}