Standard Chartered made its head of wholesale banking its highest paid executive in 2011, a year in which the UK bank kept its bonus pool at around $800m while rivals cut back.

Mike Rees received a base salary of $1.1m, in-year cash and share bonuses of $4m, a deferred share bonus of $6m and a long-term incentive plan worth $2.2m, according to the bank's annual report published on Friday.