will embark on a group-wide long-term incentive plan (LTIP) – for the first time ever – which the bank says will enhance the accountability of its senior management in delivering the group’s strategy and targets.
The plan will see its key executives receiving their full bonuses or incentive payouts only in three to four years’ time from now, and not yearly as they normally do.
They will be paid in shares and have up to seven years to cash in on the shares.
To be sure, the value of the payouts they receive will depend on the company’s share price performance at the point of cashing in.