This is how Maile Carnegie ended up being paid more than her boss ANZ CEO Shayne Elliott

ANZ’s group executive digital banking, Maile Carnegie. Photo: Dave Goudie/Eagle Image.

Maile Carnegie, the former head of Google Australia who defected to run digital at the ANZ Bank, was the bank’s highest paid senior executive last year, earning more than even her new boss, Shayne Elliott.

According to the ANZ’s annual report, Carnegie was paid $4,344,169 in 2017 while Elliott got a little less at $4,261,588.

Her cash pay at $1.5 million was about half Elliott’s $3.1 million but she slipped ahead on a parcel of shares which vested, giving her an extra $2,783,169.

When she started at the bank in June 2016 she was given $3.264 million in deferred equity as compensation for “bonus opportunity foregone and deferred remuneration forfeited” at Google.

It was part of this payment which took her take home pay above Elliott’s.

Carnegie, whose title is Group Executive Digital Banking, believes the bank needs to look to solutions from the tech sector to succeed in an increasingly digital market.

When she was appointed, she said: “There is so much passion to change the bank, to really digitally transform the bank. I’m really excited about the vision people like CEO Shayne Elliott have.”

Here’s a table of how well ANZ senior executives did for 2017 Actual Remuneration received:

Source: ANZ Bank 2017 annual report

The executives at the the ANZ didn’t get an increase in fixed remuneration for 2017 but the short and long term bonuses pushed the end payout significantly higher.

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