The senior executive team at Macquarie Bank, which today posted another record profit of $2.21 billion, shared $124 million in pay in 2016.
The company’s annual report released today shows the top earner as CEO Nicholas Moore with total remuneration of $18.71 million, a rise of 3% or $554,544 on the previous year.
He gets a base pay of just $818,804. The rest is made up of a performance payments, profit shares, equity awards, other share-based payments including performance share units and short term employee benefits.
The rest of the $124 million was shared by Moore’s 11 direct reports.
- Stephen Allen, chief risk officer – $7,305,102
- T.C. Bishop, head of Macquarie Capital – $8,068,025
- Ben Brazil, co-head of the Corporate and Asset Finance – $16,883,877
- Andrew Downe, head of Commodities and Global Markets – $15,445,732
- G.A. Farrell, co-head of Corporate and Asset Finance – $10,130,473
- Michael McLaughlin, country head, US – $3,809,503
- M.J. Reemst, Macquarie Bank Limited managing director and CEO – $4,742,813
- Nicole Sorbara, COO – $5,813,557
- Patrick Upfold, CFO – $6,297,451
- G.C. Ward deputy managing director, head of Banking and Financial Services – $9,456,996
- Shemara Wikramanayake, head of Macquarie Asset Management Group – $17,339,653
Here’s how Macquarie’s remuneration system works: