The top 13 executives at Standard Chartered have been awarded pay and bonuses for 2011 worth a combined total of $92m (£58m) with Mike Rees, the head of the lender’s investment banking arm, receiving a package worth $13.4m. Peter Sands, chief executive, received a salary and bonus package worth $8m, including an annual bonus of $3.5m and long-term awards worth $2.7m.
Those bankers may well be the few who can afford such luxury items as a 152" television on sale in Harrods for £600,000 or the £300,000 Jean Michel Jarre iPad or the Focal Grande Utopia EM loudspeakers hand-built to order. A pair will set you back £121,999, and while listening to the music they may well be sipping Longjing or Dragon Well tea with a price of 360,000 yuan ($57,024) per kilogramme, higher than the price of gold, which is currently about $53,000 per kg.
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