Daniel Bouton, president of French bank Société Générale, is to receive a 25% rise in basic salary this year, after receiving a pay package including bonus of €3.3m ($3.9m) last year when he also cashed in options worth several million euros.

Société Générale said it was increasing Bouton's basic pay from €1m to €1.25m, a rate set in 2001, but the way his bonus has been calculated has been cut. Bouton (pictured) will be eligible for a bonus based on SG's share price up to a maximum 110% of salary against 150% in the past.