Australia’s licensed banks have never collectively been more valuable. So it’s no surprise that 2005 has broken all the records in the salaries of the lucky executives who run one of the world’s most lucrative cartels.
With NAB finally releasing its annual report in the hours after Van Nguyen’s execution on Friday, here’s the complete list of Australia’s 20 highest paid executives of our listed banks in 2005:
David Murray: departed CBA CEO: $27m
Allan Moss: CEO Macquarie Bank, $18.5m
Nicholas Moore: Macquarie investment banking boss, $18.22m
Bill Moss: Macquarie property boss, $15.4m
Ottmar Weiss:Macquarie commodities boss, $11.5m
Andrew Downe: Macquarie treasury boss, $10.4m
Phillip Green: CEO Babcock & Brown: $10.3m
Steven Zissus: Babcock US boss: $10.26m
David Clarke: Macquarie chairman, $9.8m
David Morgan: Westpac CEO, $9.1m
John McFarlane: ANZ CEO, $7.2m
Eric Lucas: Babcock Japan boss, $7.07m
John Stewart: CEO NAB, $5.9m
Ahmed Fahour: CEO NAB Australia, $5.9m
James Babcock: Babcock chairman and co-founder: $4.97m
Chris Hadley: Westpac private equity boss, $4.9m
Richard Sheppard: Macquarie deputy MD, $4.8m
Rob Topfer: Babcock finance boss, $4.67m
Peter Hofbauer: Babcock infrastructure boss, $4.65m
Gail Kelly: St George CEO, $4.49m
Of the top 20, seven are from Macquarie Bank and six from Babcock & Brown and there would be a dozen other investment bankers with foreign owned giants or boutiques earning similar sorts of figures.
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And isn’t it nice that one woman, Gail Kelly, has broken into the boy’s club at number 20. Her triplets can look forward to a tidy inheritance given that she’s getting by on just $4.49 million a year.
The point to remember about these bankers is that they are also collectively more than $1 billion in front on their equity plays. While BRW has none of them on the Rich List yet, at least half would be worth more than $110 million.