CBA business heads earn bigger bonuses

Commonwealth Bank's chief financial officer, chief risk officer and Asian business head collected lower bonuses in the bank's 2012 financial year, while most of their management committee colleagues earned higher bonuses.

The annual report of CBA, released yesterday, shows that David Craig, the CFO; Alden Toevs, the CRO; and Simon Blair, who runs international financial services, all had their short-term bonuses trimmed by around A$150,000 each.

Michael Harte, the CIO; Ian Saines, head of institutional banking; and Graham Petersen, head of retail and business banking, all received an increase in their short-term bonus of around $100,000.

Short-term bonuses for executives ranged from $880,000 (for Simon Blair) to $1.5 million (for David Craig).

The base rate of pay for the executive group ranges from $890,000 (for Simon Blair) to $1.6 million (for Alden Toevs).

Most executives of the bank forfeited long-term, share-based payments during 2012.

The former CEO, Ralph Norris, also forfeited $8.7 million in long-term bonus shares. However, he still earned $3.3 million for his final five months on the payroll.