57144
54032
56468
S&P/TSX
16373.77
+59.35
(0.36%)
S&P-CDNX
751.77
-2.63
(-0.35%)
S&P-500
2771.22
-8.44
(-0.30%)
NASDAQ
7747.20
+0.82
(0.01%)
Dow
24963.91
-126.57
(-0.50%)
Dollar
0.75704
-0.00059
(-0.07797%)
Oil
65.66
+0.81
(+1.25%)
Gold
1281.10
+2.60
(+0.20%)
Silver
16.485
+0.005
(+0.03%)


Bank bosses' fat paycheques

The chief executives of Canada's five biggest banks collectively earned roughly $53.6 million in the latest fiscal year, up more than seven per cent from a year earlier.

But it was a particularly good year for TD Bank's chief executive Bharat Masrani, who got a more than 20 per cent increase in total direct compensation to pull in $10.85 million in the twelve months ended Oct. 31, 2017.

Still, Royal Bank's chief executive Dave McKay was paid the most among his peers with $12.43 million in total direct compensation, up 7.9 per cent from a year earlier, according to the banks' latest proxy circulars.

Scotiabank's Brian Porter was second-highest paid at $10.86 million, marking a 7.4 per cent increase from fiscal 2016.

BMO's Bill Downe, who retired from the top role on Oct. 31, was paid $10.5 million, down roughly one per cent from a year earlier.

CIBC's Victor Dodig, CEO of Canada's fifth-largest bank, received $8.94 million in total direct compensation in 2017, up 1.71 per cent.



More Business News

55224
Data from CryptoCompare
Recent Trending
53995
Okanagan Oldies
56957
Castanet Proud Member of RTNDA Canada
49702
Press Room
56349
57126