Tuesday, July 29th23.4°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

22315


Recent Trending




Today's Market
S&P TSX15483.13+37.91
S&P CDNX1013.83-6.02
DJIA17004.5321.94
Nasdaq4458.56+13.65
S&P 5001980.02+1.11
CDN Dollar0.9210-0.0051
Gold1310.00+6.70
Oil100.64-1.03
Lumber322.30-0.70
Natural Gas3.747-0.001

 
Okanagan Companies
Pacific Safety0.195+0.01
Knighthawk0.01-0.005
QHR Technologies Inc1.19+0.04
Cantex0.065-0.005
Anavex Life Sciences0.2650.00
Metalex Ventures0.08+0.01
Russel Metals35.19+0.04
Copper Mountain Mining2.89-0.08
Colorado Resources0.22-0.005
ReliaBrand Inc0.10+0.019
Sunrise Resources Ltd0.02-0.03
Mission Ready Services0.17-0.02

 



22563

FEATURED Property
17594763762 Pine Valley Drive
3 bedrooms 3 baths
$634,400
more details
image2image2image2
Click here to feature your property
Please wait... loading


Take charge of your debt

Photo: Thinkstock.comWays to reduce your Debt:Make a budget and get budget counselingA basic first step for debt reduction is to prepare a budget and plan your spending. Once you have a budget, you mu...


Geopolitical tensions rattle markets

The Big Picture Geopolitical tensions rattle markets The spectre of rising geopolitical tensions in Ukraine and Gaza cast a shadow over an otherwise positive week in the markets. News that a passenger...


Learn to delegate effectively

Photo: ContributedI have the pleasure of witnessing people delegate tasks quite often. Sometimes with tremendous success and sometimes with disastrous consequences. I have chaired a lot of committees...

_








Member of BC Press Council


22707