ANZ top brass disappoint

ANZ's top brass may be falling short of meeting the expectations of their employers on the board.

All nine executives singled out for disclosed pay in the bank's annual report fell well short of the "maximum opportunity" for a short-term bonus.

These bonuses were paid in a range from 57 per cent to 83 per cent of their potential.

The bank's board rated the CEO, Mike Smith, as warranting 63 per cent of the maximum short-term bonus.

All, however, received a short-term bonus in excess of 100 per cent of "target", with these "linked to the performance targets of the group, division and individual using a balanced scorecard approach, which considers short term performance and contribution towards longer term objectives, and also the demonstration of values led behaviours."
 
The average short-term bonus paid as a percentage of target for the nine was 133 per cent, the same ratio as in 2013.