Dutch banks continue golden handshakes

14th June 2009, Comments 0 comments

An annual report by the De Volkskrant shows that last year, in spite fo the credit crunch, Dutch banks again gave generous golden handshakes. According to the Dutch daily, severance payments amounted to 50 million.

The Netherlands - An annual report by the De Volkskrant shows that last year, in spite fo the credit crunch, Dutch banks again gave generous golden handshakes. According to the Dutch daily, severance payments amounted to 50 million.
 
Most of it, EUR 32 million, went to 15 top executives at six banks. The remaining EUR 18 million were doled out by 150 other big companies. The bank that gave the biggest bonusses was ABN Amro, which spent close to EUR 20 million in golden handshakes. An ABN Amro executive, Jan Peter Schmittman, received a severance payment of EUR 8.2 million, the highest amount of all golden handshakes.

Nonetheless, the probe De Volkskrant also finds that for the first time in 25 years top management at banks earned less. The average salary was more than one million euros, a 19 percent decrease. Shell executive Jeroen van der Veer, who earned nearly EUR 8.7 million, had the highest salary. The newspaper examines the salaries of top executives at 164 large Dutch companies every year.

Radio Netherlands / Expatica

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