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NATIONAL AUSTRALIA BANK EXECUTIVES TO POCKET HIGHER SALARIES.
MELBOURNE, Dec 1 Asia Pulse - National Australia Bank (ASX:NAB) group chief executive John Stewart pocketed an $A8.4 million ($US6.61 million) pay packet in 2005/06, equating to around $A160,000 a week.
Mr Stewart's total remuneration, which bettered the previous year by almost $A2.2 million, included a $A2.5 million salary, .2 million in equity benefits involving shares, options and rights at risk and another $A2.5 million in short term incentives.
The bank's annual report released today also showed NAB's Australian chief Ahmed Fahour earned $A6.5 million, which was a .5 million improvement on the prior year.
He was paid a salary of $A1.54 million, down slightly from .6 million last year, while his equity-based benefits totalling around $A3.3 million was also lower than the prior year.
However, Mr Fahour also earned $A1.69 million in short term incentives, which he missed out on last year.
NAB's next best paid employee was UK boss Lynne Peacock who took home $A4.77 million compared to $A3.55 million in 2004 05.
NAB posted a record profit of $A4.4 billion for fiscal 2006 and increased its underlying result by 21.9 per cent.
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Source: HighBeam Research, NATIONAL AUSTRALIA BANK EXECUTIVES TO POCKET HIGHER SALARIES.