Macquarie chief Nicholas Moore made $19.7 million last year, a 5% increase on his previous pay packet of $18.7 million.
It follows another strong year for the bank, which announced a record full-year profit of $2.6 billion this morning.
The amount was largely comprised of share-based payments along with Moore’s slice of a profit-share arrangement between Macquarie executives.
Moore’s base salary for the year was $818,746 — less than the $2.2 million paid to new CBA chief Matt Comyn.
But while Comyn announced this week that he will forfeit his short-term bonus this year, Moore received short-term benefits of $4.4 million and shares in the company valued at $9.7 million.
Moore’s total share-based remuneration was almost $13 million, which is likely to see him maintain his position as Australia’s highest-paid chief executive.
The comparatively low salary demonstrates how Moore’s pay is heavily linked with performance.
The AFR reports that his total remuneration peaked at $32.9 million in 2007 before his pay fell to $290,756 in 2009, after the financial crisis.
For the financial year ended March 31 2018, the pool of funds approved by the Macquarie board for its executive team’s profit-share entitlements rose to $100.6 million – an increase of 5% from the previous year.
NOW WATCH: Money & Markets videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.