Friday, October 24th1.9°C
23711
22916

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

23015


Recent Trending




Today's Market
S&P TSX14486.83+174.76
S&P CDNX808.600.60
DJIA16677.90216.58
Nasdaq4452.792+69.945
S&P 5001950.82+23.71
CDN Dollar0.8913+0.0009
Gold1232.50+3.40
Oil81.14-0.61
Lumber334.10+4.50
Natural Gas3.601-0.021

 
Okanagan Companies
Pacific Safety0.11-0.01
Knighthawk0.01-0.005
QHR Technologies Inc1.17+0.02
Cantex0.0550.00
Anavex Life Sciences0.1980.00
Metalex Ventures0.04-0.01
Russel Metals33.16+0.63
Copper Mountain Mining2.08-0.02
Colorado Resources0.14-0.005
ReliaBrand Inc0.013+0.001
Sunrise Resources Ltd0.05-0.01
Mission Ready Services0.41+0.005

 





FEATURED Property
2059656491 Philpott Rd
10068628 bedrooms
$1,075,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Weakening global growth worries

The Big Picture Growth worries persist Worries about weakening global growth and its potential impact on the US economic recovery roiled markets around the globe this week. Europe continues to be the ...


Keep it rubber side down

This time of year, I always worry about which friends of mine will get caught going off the road in adverse weather conditions. With a little preparation most accidents can be avoided. Having won the...


Big bank predicts rate hike

Photo: Thinkstock.comThe end of record-low rates is nigh, according to one major bank, which has taken a stance and predicted when the Bank of Canada will raise its long-standing overnight rate. &ldq...

_








Member of BC Press Council


22771