Standard Chartered paid former director Alexander Au Siu-kee, GBP37,000 (about HK$467,310), although he worked for only 45 days. Mr Au, who is chief executive and vice-chairman of Singapore's Oversea-Chinese Banking Corp (OCBC), also received a GBP25,000 pension payment, according to Standard Chartered's 1998 annual report. Standard Chartered appointed Mr Au as director of government relations last year, with responsibility for external affairs, legal and compliance issues, audit and group economics. Mr began work on June 15, moving from Hong Kong to Standard Chartered's London headquarters. But on July 30, he resigned from Standard Chartered to become chief executive of OCBC. Standard Chartered's success in recruiting Mr Au, who was previously chief executive and vice-chairman of Hang Seng Bank, took the banking industry by surprise, and his appointment is thought to have unleashed a flurry of offers from other big institutions. It is understood that Mr Au saw the chance to become chief executive and vice-chairman of OCBC as too good an opportunity to ignore, but it is also said that his family was reluctant to leave Asia and move to London. Mr Au's payments came to light as the bank revealed that its total remuneration bill rose from GBP8.6 billion to GBP8.8 billion. The bank's new chief executive Rana Talwar, who took up office on October 1, last year, saw his base salary increase from GBP465,000 a year to GBP520,000, bringing his total remuneration, with bonus and other benefits to GBP1.1 million, from GBP783,000 last year. But Standard Chartered chairman Sir Patrick Gillam saw his remuneration fall slightly to GBP914,000 from GBP940,000. The bank revealed yesterday it had a new large shareholder, as part of a drive to increase its US investor base. The Capital Group of Companies, a US fund manager, holds a 3.25 per cent stake in the group.