Monday, March 30th9.3°C
25326
25263

CIBC pays CEO $10 million for last year, up from $9.9 million in 2012

TORONTO - CIBC president and chief executive Gerry McCaughey earned $10.01 million in total compensation last year, according to documents filed ahead of the bank's (TSX:CM) annual meeting next month.

The pay packet was up from the $9.93 million he received from the bank in 2012.

McCaughey's compensation for 2013 included a base salary of $1.5 million, $3.74 million in share-based awards, $935,880 in option-based awards and a $3.12-million cash bonus. The value of his pension earned for the year amounted to $717,000.

That compared with a base salary of $1.5 million, $1.92 million in share-based awards, $960,000 in options-based awards, a cash bonus of $2.94 million and $1.92 million in long-term incentives in 2012.

The value of McCaughey's pension earned in 2012 amounted to $687,000.

Richard Nesbitt, CIBC's chief operating officer, was the second-highest paid executive at the bank with a total of nearly $7.41 million for last year, up from $7.36 million in 2012.

Chief financial officer Kevin Glass earned $2.57 million, up from nearly $2.36 million, while David Williamson, group head of retail and business banking, earned $4.43 million, up from $4.13 million.

Victor Dodig, group head of wealth management, earned $3.97 million, up from $3.26 million.

CIBC's annual meeting will be held April 24 in Montreal.

The Canadian Press


Read more Business News

25607


Recent Trending




Today's Market
S&P TSX14812.42-57.38
S&P CDNX681.43+1.87
DJIA17712.66+34.43
Nasdaq4891.22+27.86
S&P 5002061.02+4.87
CDN Dollar0.7921-0.0008
Gold1196.30-8.80
Oil47.92-0.95
Lumber282.60-3.60
Natural Gas2.62-0.05

 
Okanagan Companies
Pacific Safety0.125-0.005
Knighthawk0.010.00
QHR Technologies Inc1.50+0.00
Cantex0.03-0.01
Anavex Life Sciences0.219+0.009
Metalex Ventures0.04-0.01
Russel Metals24.50-0.18
Copper Mountain Mining1.13+0.00
Colorado Resources0.125+0.010
ReliaBrand Inc0.006-0.001
Sunrise Resources Ltd0.045+0.000
Mission Ready Services0.255+0.020
Decisive Dividend Corporation1.80+0.02

 



25670

FEATURED Property
2153306809 Finns Road
$1,250,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


CRA Notice of Assessment

Many Canadians rush to file their taxes on time each year and don’t think about it until the next year. One of the most overlooked notices received from the CRA annually is the annual Notice of ...


Medical confidential?

If ICBC asks your doctor for your information you may wonder: Can ICBC ask my doctor for my medical information? Can ICBC request a medical report from my doctor without my consent? What is ICBC entit...


Stay out of sales limbo!

Have you ever had a series of good meetings with a prospect … gathered all kinds of information … and given what you thought was a great presentation … only to receive a response ...

_








Member of BC Press Council


25534