Now, before we go gaping at the numbers, let\u2019s get acquainted with what they do on a daily basis and the challenges they face to find out if it they are really worth their weights in gold.<\/p>\n
<\/span>The roles of a CEO <\/strong><\/span><\/h2>\nA CEO is the chief executive officer of an organisation. In general, some of their roles<\/a> are:<\/p>\n\n- Make the vast majority of all business related executive decisions.<\/li>\n
- Leading, guiding, and overseeing the job performance of other highly ranking company employees such as the president and vice presidents.<\/li>\n
- Responsible for putting together and formulating a strategic set of plans on how to address the direction of their company.<\/li>\n
- Drive strategic planning, business development, and fiscal operations.<\/li>\n
- Establish positive relationships with stakeholders and other business leaders.<\/li>\n
- Determine overarching goals and initiatives.<\/li>\n<\/ul>\n
<\/span>The roles of a bank CEO <\/strong><\/span><\/h2>\nSpecifically, a bank CEO is responsible<\/a> for:<\/p>\n\n- Formulating operational policies for the bank<\/li>\n
- Formulating goals and setting deadlines for them<\/li>\n
- Formulating rules and regulations in the bank regarding financial transactions and other important functions<\/li>\n
- Coordinating the resources in the bank in order to attain the formulated goals<\/li>\n
- Interacting with shareholders and releasing company reports<\/li>\n
- Ensuring that all the financial data of the company is updated and accurate<\/li>\n
- Monitor the functioning of various departments of the bank and ensuring that all of them are working on the right track<\/li>\n<\/ul>\n
<\/span>How to qualify to be a bank CEO?<\/strong><\/span><\/h2>\nSome of the qualifications needed to be the CEO of a bank:<\/p>\n
\n- Great social skills and the ability to be an effective leader<\/li>\n
- Excellent analysis, observation and decision making skills<\/li>\n
- Excellent communication skills<\/li>\n
- A thorough knowledge about federal and state regulations regarding the banking sector<\/li>\n
- A thorough knowledge about the way banks work<\/li>\n
- A master\u2019s degree in finance and management is essential for a CEO<\/li>\n
- Experience of work in various sectors of banking is required<\/li>\n<\/ul>\n
Now that you know what is required of a bank CEO, let\u2019s see what they earn!<\/p>\n
To give you a perspective<\/a>, according to the Salaries & Wages Survey conducted by Department of Statistics Malaysia (DOSM), in 2017,<\/p>\nThe median salary of Malaysians is RM2,160.<\/p><\/blockquote>\n
<\/span>Here’s a roundup of the annual remuneration and background of the top 5<\/strong><\/span><\/h2>\nLet\u2019s see how much the top 5 bank CEOs are being paid<\/a> yearly in Malaysia. *Drumrollllll*<\/p>\n![\"CIMB](\"https:\/\/static.imoney.my\/articles\/wp-content\/uploads\/2019\/09\/25185540\/4.-CIMB.jpg\")
<\/a>Image courtesy: CIMB<\/p><\/div>\n
5. CIMB Group Holdings Berhad\u2019s Tengku Dato\u2019 Sri Zafrul Tengku Abdul Aziz<\/strong><\/div><\/p>\nTotal compensation: RM9.89 million<\/p>\n
Age: 45 years old<\/p>\n
Education: Bachelor of Science (Hons) in Economics and Accounting from University of Bristol, United Kingdom, Master of Arts in Finance and Management from University of Exeter, United Kingdom, Fellow of the Asian Institute of Chartered Bankers and Investment Management Certificate from Institute of Investment and Research, United Kingdom<\/p>\n
Background: Over 22 years of experience in the financial services sector specialising in Investment Banking<\/p>\n
<\/div><\/div>\n
![\"Malayan](\"https:\/\/static.imoney.my\/articles\/wp-content\/uploads\/2019\/09\/25185418\/5.-Maybank.jpg\")
<\/a>Image courtesy: Maybank<\/p><\/div>\n
4. Malayan Banking Berhad\u2019s Datuk Abdul Farid Alias<\/strong><\/div><\/p>\nTotal compensation: RM10.11 million<\/p>\n
Age: 50 years old<\/p>\n
Education: Bachelor of Science in Accounting from Pennsylvania State University, Master of Business Administration from University of Denver and an alumnus of the Harvard Business School Advanced Management Program.<\/p>\n
Background: Over 20 years of experience in investment banking, corporate finance and capital markets with Aseambankers Malaysia Berhad, Schroders, Malaysian International Merchant Bankers Berhad, J.P. Morgan and Khazanah Nasional Berhad.<\/p>\n
<\/div><\/div>\n
![\"Hong](\"https:\/\/static.imoney.my\/articles\/wp-content\/uploads\/2019\/09\/25185315\/3.-Hong-Leong.jpg\")
<\/a>Image courtesy: The Star Media<\/p><\/div>\n
3. Hong Leong Financial Group Berhad\u2019s Tan Kong Khoon<\/strong><\/div><\/p>\nTotal compensation: RM11.05 million<\/p>\n
Age: 61 years old<\/p>\n
Education: Bachelor of Business Administration degree from Bishop\u2019s University, Canada and an alumnus of the Harvard Business School Advanced Management Program.<\/p>\n
Background: Began his banking career with DBS in 1981 and has successfully built consumer banking franchises across multiple markets in Asia for Citibank, Standard Chartered Bank and ANZ Bank.<\/p>\n
<\/div><\/div>\n
- \n
- Make the vast majority of all business related executive decisions.<\/li>\n
- Leading, guiding, and overseeing the job performance of other highly ranking company employees such as the president and vice presidents.<\/li>\n
- Responsible for putting together and formulating a strategic set of plans on how to address the direction of their company.<\/li>\n
- Drive strategic planning, business development, and fiscal operations.<\/li>\n
- Establish positive relationships with stakeholders and other business leaders.<\/li>\n
- Determine overarching goals and initiatives.<\/li>\n<\/ul>\n
<\/span>The roles of a bank CEO <\/strong><\/span><\/h2>\n
Specifically, a bank CEO is responsible<\/a> for:<\/p>\n
- \n
- Formulating operational policies for the bank<\/li>\n
- Formulating goals and setting deadlines for them<\/li>\n
- Formulating rules and regulations in the bank regarding financial transactions and other important functions<\/li>\n
- Coordinating the resources in the bank in order to attain the formulated goals<\/li>\n
- Interacting with shareholders and releasing company reports<\/li>\n
- Ensuring that all the financial data of the company is updated and accurate<\/li>\n
- Monitor the functioning of various departments of the bank and ensuring that all of them are working on the right track<\/li>\n<\/ul>\n
<\/span>How to qualify to be a bank CEO?<\/strong><\/span><\/h2>\n
Some of the qualifications needed to be the CEO of a bank:<\/p>\n
- \n
- Great social skills and the ability to be an effective leader<\/li>\n
- Excellent analysis, observation and decision making skills<\/li>\n
- Excellent communication skills<\/li>\n
- A thorough knowledge about federal and state regulations regarding the banking sector<\/li>\n
- A thorough knowledge about the way banks work<\/li>\n
- A master\u2019s degree in finance and management is essential for a CEO<\/li>\n
- Experience of work in various sectors of banking is required<\/li>\n<\/ul>\n
Now that you know what is required of a bank CEO, let\u2019s see what they earn!<\/p>\n
To give you a perspective<\/a>, according to the Salaries & Wages Survey conducted by Department of Statistics Malaysia (DOSM), in 2017,<\/p>\n
The median salary of Malaysians is RM2,160.<\/p><\/blockquote>\n
<\/span>Here’s a roundup of the annual remuneration and background of the top 5<\/strong><\/span><\/h2>\n
Let\u2019s see how much the top 5 bank CEOs are being paid<\/a> yearly in Malaysia. *Drumrollllll*<\/p>\n
<\/a>Image courtesy: CIMB<\/p><\/div>\n
5. CIMB Group Holdings Berhad\u2019s Tengku Dato\u2019 Sri Zafrul Tengku Abdul Aziz<\/strong><\/div><\/p>\nTotal compensation: RM9.89 million<\/p>\n
Age: 45 years old<\/p>\n
Education: Bachelor of Science (Hons) in Economics and Accounting from University of Bristol, United Kingdom, Master of Arts in Finance and Management from University of Exeter, United Kingdom, Fellow of the Asian Institute of Chartered Bankers and Investment Management Certificate from Institute of Investment and Research, United Kingdom<\/p>\n
Background: Over 22 years of experience in the financial services sector specialising in Investment Banking<\/p>\n
<\/div><\/div>\n
<\/a>Image courtesy: Maybank<\/p><\/div>\n
4. Malayan Banking Berhad\u2019s Datuk Abdul Farid Alias<\/strong><\/div><\/p>\nTotal compensation: RM10.11 million<\/p>\n
Age: 50 years old<\/p>\n
Education: Bachelor of Science in Accounting from Pennsylvania State University, Master of Business Administration from University of Denver and an alumnus of the Harvard Business School Advanced Management Program.<\/p>\n
Background: Over 20 years of experience in investment banking, corporate finance and capital markets with Aseambankers Malaysia Berhad, Schroders, Malaysian International Merchant Bankers Berhad, J.P. Morgan and Khazanah Nasional Berhad.<\/p>\n
<\/div><\/div>\n
<\/a>Image courtesy: The Star Media<\/p><\/div>\n
3. Hong Leong Financial Group Berhad\u2019s Tan Kong Khoon<\/strong><\/div><\/p>\nTotal compensation: RM11.05 million<\/p>\n
Age: 61 years old<\/p>\n
Education: Bachelor of Business Administration degree from Bishop\u2019s University, Canada and an alumnus of the Harvard Business School Advanced Management Program.<\/p>\n
Background: Began his banking career with DBS in 1981 and has successfully built consumer banking franchises across multiple markets in Asia for Citibank, Standard Chartered Bank and ANZ Bank.<\/p>\n
<\/div><\/div>\n
![\"Hong](\"https:\/\/static.imoney.my\/articles\/wp-content\/uploads\/2019\/09\/25185153\/2.-Hong-Leong.jpg\")
<\/a>![\"Public](\"https:\/\/static.imoney.my\/articles\/wp-content\/uploads\/2019\/09\/25185017\/1.-public-bank-better-photo-800x533.jpg\")
<\/a>