OCBC CEO's total pay rose to $11.1m

Tsien donated $650,600 to #OCBCCares programme.

OCBC chief executive officer Samuel Tsien saw his total pay rise 3.5% YoY to $11.1m in 2019 from $10.7m previously, according to the bank's latest annual report. This represents a $379,557 increase in his total salary.

Tsien contributed more than half of his 2019 base salary of $1.2m amounting to $650,600 to #OCBCCares programme, according to a separate announcement. His donation helped support community and environmental causes and fund 21 projects for families, the elderly, and people with special needs.

In addition, he also donated to the OCBC NTUC First Campus Bridging programme in 2019 to support 2,500 children with two years of free preschool education in 2020-2025. He was also the main contributor to the bank's five-year habitat enhancement project, planting critically endangered trees on Coney Island.

The CEO also did not request for the 2.5 times tax deduction benefits for the donations.

Tsien's salary for 2019 comprised a cash bonus of $5.84m, deferred shares worth $3.89m, other benefits of $102,157, and a base salary of $1.2m. The value was estimated based on OCBC's closing price of $8.36 per share on 20 March.

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