UOB CEO Wee Ee Cheong earned S$14.23m in 2023
His base salary remained the same.
United Overseas Bank’s deputy chairman and chief executive officer Wee Ee Cheong has earned a total of S$14.23m in 2022, a 30.18% increase from his total remuneration of S$10.93m in 2021.
A bulk of the increase came from higher bonuses. Cheong will receive S$13m in bonus for 2022, up from S$9.7m in 2021.
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His base salary remained the same at S$1.2m.
About 60% of the variable pay to Cheong is deferred and will vest over the next three years. Of the deferred variable pay, 40% will be issued in deferred cash, whilst the remaining 60% will be in the form of share-linked units, UOB said.