Santander increases senior management remuneration by 18%

The increases are due to salary adjustments and increased insurance. The number of general managers has been reduced to 13 and they have earned a total of 7.44 million until March.

Santander has increased the remuneration paid to senior management by 18% of the bank in the first quarter of the year.

Members of this group, which has been reduced in number in 2024, received 7.44 million euros between January and March, compared to 6.30 million in the same period in 2023according to quarterly accounts filed with the US market regulator (SEC).

The increase in remuneration would be motivated by three factors: salary adjustments that have been reported in the first quarter, a general increase in life and compensation insurance premiumsand the changes in the composition of senior management.

Mahesh Adityawho took over the Risk area in March 2023, replacing Keiran Foad, has received his full salary this year, compared to the first quarter of last year, when he only received senior management salary for one month.

The pension rights accumulated by senior management members amount to 58.8 million euros, after increasing by 8.5% compared to the first quarter of 2023.

Salida

The number of senior management members, former managing directors, has been reduced to 13 at the beginning of the year, following the departure of Marjolein van Hellemondt from the group, former Compliance Officer.

This executive line is made up, with data as of March, of Daniel Barriuso (Commercial Bank), Mahesh Aditya (Risks), Alexandra Brandao (in recent months he has handed over the baton to Javier Roglá in Talent and Culture), Juan Manuel Cendoya (Communication, Corporate Marketing and Studies), Jose Doncel (will leave the Intervention function next year), Jose Garcia Cantera (Finance), Juan Guitard (vice president of PagoNxt), Jose Maria Linares (Investment Banking), Monica Lopez Monis (Relationship with Supervisors), Dirk Marzluf (Technology and Operations), Victor Matarranz (support to the CEO in Strategy), Jose Luis de Mora (Digital Consumer and Corporate Development) and Jaime Perez Renovales (General Secretary).

The president of Santander, Ana Botin, and CEO, Hector Grisi, They received, together, a fixed salary of 1.46 million euros in the first quarter, in line with the 1.43 million of last year.

The council’s pension rights rise to 72.30 million, compared to 66.01 million a year ago.

In the European panorama, UBS and HSBC have the highest paid CEOs in banking and SocGen the worstaccording to the latest available data, corresponding to 2023.

Hector Grisi is fifth in the ranking and Onur Genç is eighth.

There are only two banks where the CEOs have exceeded the 10 million mark in remuneration. The first is Sergio Ermotti, CEO of UBS, with 15.5 million. The second is Noel Quinnthe person in charge of HSBCEurope’s largest bank, which charged last year 12.3 million.

A little further down is Bill Winters, from the also British Standard Chartered, with nine million of euros, and right after that is the first representative of a eurozone bank: Christian Sewing of Deutsche Bank with 8.7 million. Follows him Hector Grisi, with 7.9 million, but with the addition that the entity has a female executive president who earns more than the CEO. Ana Botín is on the podium with UBS and HSBC, because she earned more than 10 million euros.

A BBVA The same thing happens to him. His CEO, Onur Genç, won 6.7 million of euros, behind the Italians Carlo Messina (Intesa Sanpaolo) and Andrea Orcel (UniCredit), but BBVA Chairman Carlos Torres has more than 7.6 million.

At the bottom of the table are the smaller banks, such as the Italian one. BPER Bank, the British Virgin Money or the Austrian First Groupalong with one that should not be in that group because of its size.

Société Générale has decided to apply the same containment plan to its CEO as to the rest of the bank y Krupa He has accepted it as a way of setting an example. That has made him the lowest paid of the group, with 2.8 million.

 
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