Economy
$2.5 million, China's top banking bonus
By Zuo Likun (chinadaily.com.cn)
Updated: 2010-05-05 11:14
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Frank Newman, Board Chairman and CEO of the Shenzhen Development Bank, snapped up 17.4 million yuan ($2.5 million) as an annual bonus last year, surpassing all the bankers in China, the Beijing Youth Daily reported Wednesday.
The report added that most bankers' bonuses will be paid by installments for at least three years, a practice in line with banking regulations that aim to trim excessive risk taking by executives.
