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Having higher pay after benchmarking to peers, seems to be a feature (than a bug) in the Little Red Dot.
SGX AGM is coming in 2 days time. Shareholders can rightfully ask this question but I assume that we get the usual boilerplate response.
Pay for What Performance? Remuneration of the CEO of SGX
Let’s now look at how the remuneration of the SGX CEO compares with his peers in a few other exchanges. For this purpose, I picked three other exchanges – Australian Securities Exchange (ASX), Hong Kong Exchange (HKEX) and London Stock Exchange (LSE).
Based on the latest remuneration, SGX CEO’s total remuneration is about 2.2 times that of the ASX CEO, 49% that of the HKEX CEO, and 88% that of the LSE CEO, after converting to Singapore dollars using average exchange rates. If we look at the entire period of the tenure of the SGX CEO, the SGX CEO’s average remuneration is about 1.4 times that of his counterpart at ASX, about 51% of HKEX’s and 74% of LSE’s. The new CEO of HKEX, Ms Bonnie Chan, was appointed on 1 March 2024. In her previous role as Head of Listing of HKEX, her remuneration in FY2023 was S$2.54 million. It remains to be seen how much she will be paid in her new role as CEO.
However, ASX, HKEX and LSE are all substantially larger than SGX. In 2023, ASX had about 3.26 times the number of listings and 2.94 times the total market cap compared to SGX. For HKEX, they were 4.13 times and 6.53 times respectively, and for LSE about 3 times and 5.23 times respectively.
For ASX and LSE, the remuneration of their CEOs seemed to be more variable over the years, with significant dips for the ASX CEO in the past two years. For the LSE CEO, there was a significant increase in FY2020 followed by a significant dip in FY2022.
In contrast, the remuneration of the SGX CEO has never fallen in any year since he joined.
https://governanceforstakeholders.com/20...eo-of-sgx/
SGX AGM is coming in 2 days time. Shareholders can rightfully ask this question but I assume that we get the usual boilerplate response.
Pay for What Performance? Remuneration of the CEO of SGX
Let’s now look at how the remuneration of the SGX CEO compares with his peers in a few other exchanges. For this purpose, I picked three other exchanges – Australian Securities Exchange (ASX), Hong Kong Exchange (HKEX) and London Stock Exchange (LSE).
Based on the latest remuneration, SGX CEO’s total remuneration is about 2.2 times that of the ASX CEO, 49% that of the HKEX CEO, and 88% that of the LSE CEO, after converting to Singapore dollars using average exchange rates. If we look at the entire period of the tenure of the SGX CEO, the SGX CEO’s average remuneration is about 1.4 times that of his counterpart at ASX, about 51% of HKEX’s and 74% of LSE’s. The new CEO of HKEX, Ms Bonnie Chan, was appointed on 1 March 2024. In her previous role as Head of Listing of HKEX, her remuneration in FY2023 was S$2.54 million. It remains to be seen how much she will be paid in her new role as CEO.
However, ASX, HKEX and LSE are all substantially larger than SGX. In 2023, ASX had about 3.26 times the number of listings and 2.94 times the total market cap compared to SGX. For HKEX, they were 4.13 times and 6.53 times respectively, and for LSE about 3 times and 5.23 times respectively.
For ASX and LSE, the remuneration of their CEOs seemed to be more variable over the years, with significant dips for the ASX CEO in the past two years. For the LSE CEO, there was a significant increase in FY2020 followed by a significant dip in FY2022.
In contrast, the remuneration of the SGX CEO has never fallen in any year since he joined.
https://governanceforstakeholders.com/20...eo-of-sgx/