Bank of Montreal awarded Chief Executive Officer William Downe $10.2 million in compensation for fiscal 2015, a couple.1 per cent increase from a year earlier.
Downe, 63, received $1.88 million in salary, $8.27 million in shares, investment and incentives, plus $16,625 in other compensation for the year ended Oct. 31, the Toronto-based lender said Tuesday in a regulatory filing. He received $9.96 million in fiscal 2014. The totals exclude pension values.
Canada’s fourth-largest lender posted record annual profit of $4.41 billion for 2015, up 1.7 percent from a year earlier. Bank of Montreal surpassed its objective of earning $1 billion in annual make money from U.S. banking and wealth management, four years after Downe set the medium-term profit target.
Downe is “probably the most experienced CEO one of the Canadian banks, and BMO’s performance in 2015 was good, surpassing the record highs of 2014,” the firm said within the filing. “These strong results are an expression of a well-executed growth strategy.”
Bloomberg News
Related
- Toronto-Dominion Bank CEO Bharat Masrani paid $9.38 million in newbie as top executiveTop CEOs earned average of $8.96 million, 184 times more than most CanadiansAmerican CEO retirement packages: Larger than most employees
-
-
-
