Pay freeze for Kiwi ANZ bank execs
Top ANZ National Bank executives – including about 100 in New Zealand – will have salary rise caps for a second year.
For most executives that will mean a 2013 pay freeze, the bank says.
According to Australian reports, ANZ ceo Mike Smith says freezing salaries "will demonstrate that constraining costs is everybody's business".
Mr Smith was paid $A3.15 million in 2010-11, as well as annual bonus payments and equity awards. In 2009-10, his total remuneration, not including $A2.25 million of "deferred amounts", was $A5.5 million.