OREANDA-NEWS. March 17, 2015. Standard Chartered paid its chief executive Peter Sands \\$5.1 million and his deputy Mike Rees \\$7 million for 2014, despite a troubled year in which the bank's shares slumped and investors forced Sands to be replaced.

Standard Chartered also said in its annual report released on Monday it had paid 130 staff 1 million euros (\\$1 million) or more for 2014.

Mike Rees, who was made deputy CEO last year and has regularly been the bank's top earner for running its investment bank, was paid a salary of \\$1.5 million, an allowance of \\$1 million, benefits of \\$182,000 and a pension worth \\$3.9 million for 2014. His pay was down from \\$9.5 million in 2013.

Standard Chartered's shares fell 29 percent in 2014 and its pretax profit dropped by a quarter to \\$5.2 billion, as it was hit by an increase in losses, from bad loans to commodities clients and in its businesses in China and India.

The bank had already said it was cutting its bonus payments pool by 9 percent to 667 million pounds and none of its executive directors, apart from Finance Director Andy Halford, would get a bonus for last year.

Standard Chartered last month said former JPMorgan executive Bill Winters would take over from Sands as CEO in June. Investors have criticized Sands and his management team for being too slow to turn around the bank's fortunes after a grim 2-1/2 years.

Winters is expected to step up a plan to cut costs and sell underperforming businesses and many analysts expect him to launch a multi-billion pound rights issue to strengthen capital. The bank said this month in did not need and did not need to raise capital.

The bank's second biggest investor, Aberdeen Asset Management, said on Monday it would be a "major surprise" if the bank raised capital in the near future, but it would back such a plan if needed.

"Clearly if they justified the case for more capital, we would back it," said Martin Gilbert, chief executive of Aberdeen. "But I think the latest statements from the finance director really say they don't need more capital so it would be a major surprise if they did a 180 degree turn so rapidly," he told Reuters on the sidelines of a conference in Qatar.