Saturday, August 23rd10.1°C
22568

Royal Bank CEO's pay rises one per cent to $12.7 million last year

TORONTO - Royal Bank (TSX:RY) chief executive Gord Nixon received a pay increase of about one per cent in 2013, his last full year in the top job at the bank.

Nixon was paid $12.7 million last year, up from the $12.6 million what he made in 2012.

The details of key executive's pay were outlined bank's annual disclosure released Friday.

Overall, Royal Bank's top-five executive leadership received a seven per cent increase in compensation to nearly $47.7 million.

The bank earned a record $8.4 billion for the year, an increase of 12 per cent over 2012, as it improved results in its retail banking operations, wealth management and capital markets divisions.

Nixon retires on Aug. 1 when he hands over the chief executive mantle to Dave McKay, the bank's head of personal and commercial banking.

Royal Bank's management proxy circular showed Nixon's base salary held steady at $1.5 million for the year, the same as 2012.

He also received $1.65 million in stock- and option-based awards, a $2.93-million cash bonus and another $6.65 million in share-based awards and other compensation.

That compared with $1.65 in stock- and option-based award, a cash bonus of $2.85 million and $6.65 million in share-based awards and other compensation in 2012.

The value of Nixon's pension earned for 2013 was $1.3 million, up from nearly $1.1 million in 2012.

Of the other executives, chief financial officer Janice Fukakusa received the biggest pay increase of 19 per cent to $5.6 million.

The Canadian Press


Read more Business News

22439


Recent Trending




Today's Market
S&P TSX15535.55-19.71
S&P CDNX1005.583.38
DJIA17001.22-38.27
Nasdaq4538.551+6.446
S&P 5001988.40-3.97
CDN Dollar0.9137-0.0003
Gold1279.90+6.2001
Oil96.30+1.82
Lumber352.80-2.80
Natural Gas3.88-0.009

 
Okanagan Companies
Pacific Safety0.18-0.005
Knighthawk0.01-0.005
QHR Technologies Inc1.20-0.01
Cantex0.065-0.005
Anavex Life Sciences0.265+0.005
Metalex Ventures0.08+0.005
Russel Metals36.78-0.81
Copper Mountain Mining2.99+0.11
Colorado Resources0.17-0.015
ReliaBrand Inc0.115+0.02
Sunrise Resources Ltd0.025-0.005
Mission Ready Services0.26+0.045

 





FEATURED Property
1935681902 - 2040 Springfield Rd.
2 bedrooms 2 baths
$359,900
more details
image2image2image2
Click here to feature your property
Please wait... loading


How much mortgage should you carry?

There are several things to consider when deciding how much home to buy. 1. Draw up a budget including the new mortgage payments. While the rules used by most lenders require that the mortgage paym...


What is a journey without a destination?

Photo: ContributedI would call it a joy ride... You see a planned project or business has a destination. It may be an ongoing revenue stream, it may be a business value or an exit strategy. If you don...


Joint accounts: what you need to know!

Establishing a joint account may seem like a great strategy at first glance. However, there are many factors that must be considered before taking this action. This article will explore the use of &ls...

_



22854

22885


Member of BC Press Council


22707