Santander’s UK finance chief paid £500,000 in relocation bills in every of final 4 years
Santander’s UK finance chief has been paid £500,000 in relocation bills in every of the final 4 years, paperwork present.
Duke Dayal moved from Boston within the US to London in 2019. Corporations typically compensate executives for altering jobs to cowl additional prices similar to journey, shopping for or renting a home, and paying college charges. However these funds are often one-offs.
Change: Santander stated the relocation allowance was ‘to assist [Dayal’s] transfer… and the transition’
Dayal was additionally the Spanish-owned lender’s highest paid director final yr, taking dwelling £3.5 million – greater than the UK division’s chief govt Mike Regnier, who obtained £2.4 million.
Since shifting to the UK, Dayal has been paid a complete of £11 million.
Santander has been criticised for not passing on rate of interest rises to savers. Final yr, it raked in £4.8 billion in internet curiosity revenue – the distinction between what it pays savers and costs debtors. This was £475 million greater than in 2021.
Santander stated the relocation allowance was ‘to assist [Dayal’s] transfer …and the transition’.
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