The salary of the governor of the National Bank of Belgium (BNB) will be planed by 10% and that of the vice-governor by 5%, write De Standaard and Het Nieuwsblad on Wednesday. Pierre Wunsch wishes to have a broader salary moderation approved in the institution.
According to newspapers, the governor himself pushed for this reduction to respond to criticism of the high salaries at the top of the BNB and to implement a broader salary moderation with more weight. In particular, executive compensation is not in line with that of commercial banks. This issue was raised at a staff meeting last week.
In terms of gross salary, the Belgian governor is the highest paid regulator in the euro zone. He received 506,606 euros last year, an amount that will rise to 450,000 euros from January 1, almost double the remuneration of the Prime Minister.
The post Pierre Wunsch (National Bank) cuts his salary by 10% appeared first on Business AM.