Saturday 16 November 2019

17% pay rise for ABN Amro executives, apart from the boss

abn amro logoSix of the seven senior executives at ABN Amro had a pay rise of €100,000 last year, the bank’s annual report, published on Friday, shows.

Chief executive Gerrit Zalm, whose salary and pension provision topped €1m in 2014, did not get rise, news agency ANP says.

Zalm’s basic salary at the nationalised bank is €759,000. The other six had a basic salary of €608,000 which has now gone up by 17%.

On Thursday it emerged ING had put up the basic pay packet of its CEO Ralph Hamers by 28%.

Lard Friese, who heads insurance company NN, had a 39% pay rise to €1.18m.

The rises in basic pay have been prompted by the government’s decision to place a 20% of full salary ceiling on financial sector bonuses.

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