Democracy Gone Astray

Democracy, being a human construct, needs to be thought of as directionality rather than an object. As such, to understand it requires not so much a description of existing structures and/or other related phenomena but a declaration of intentionality.
This blog aims at creating labeled lists of published infringements of such intentionality, of points in time where democracy strays from its intended directionality. In addition to outright infringements, this blog also collects important contemporary information and/or discussions that impact our socio-political landscape.

All the posts here were published in the electronic media – main-stream as well as fringe, and maintain links to the original texts.

[NOTE: Due to changes I haven't caught on time in the blogging software, all of the 'Original Article' links were nullified between September 11, 2012 and December 11, 2012. My apologies.]

Monday, March 14, 2016

Here Are The Raises Canada's Big Bank CEOs Got Last Year

TORONTO — Promotions meant big pay raises last year for the men taking the helm at three of Canada's biggest banks.

David McKay, RBC — up 44 per cent

david mckay rbc
In his first full year as president and CEO of Royal Bank, McKay saw his total direct compensation jump 44 per cent to $10.9 million.

That compared with the $7.5 million McKay earned in 2014 when he spent most of the year as group head of personal and commercial banking, according to a regulatory filing released on Wednesday.
Total direct compensation does not include the value of a CEO's pension, as well as the employer's contribution to share ownership plans.

Victor Dodig, CIBC — up 72 per cent

victor dodig cibc
Victor Dodig, who took on the top job at CIBC (TSX:CM) in September 2014, saw his total direct compensation shoot up 72 per cent to $8.2 million last year. He had been group head of wealth management at CIBC before taking over the top job.

Bharat Masrani, TD Bank — up 10 per cent

bharat masrani td bank
TD Bank's Masrani received $9 million in total direct compensation during his first full year in the top job — an increase of 10 per cent from the previous year. He had been TD Bank's chief operating officer.

Brian Porter, Scotiabank — up nearly 5 per cent

brian porter scotiabank
The chief executives of Scotiabank and the Bank of Montreal also got pay bumps last year, although the raises were more moderate than those awarded to newer bank CEOs. Scotiabank's Porter earned $9.3 million in total direct compensation last year, up nearly five per cent from $8.9 million in 2014, according to a regulatory filing published Wednesday.
Porter became the bank's president and CEO on Nov. 1, 2013.

William Downe, BMO — up 2 per cent

bill downe bmo
BMO's Downe received $10.2 million in total direct compensation last year. That's up more than two per cent from a year ago, when he made $9.9 million, according to documents released on Tuesday.
Downe has been in his current role at the bank (TSX:BMO) since 2007.
Original Article
Author: Alexandra Posadzki

No comments:

Post a Comment