MONTREAL, March 28, 2013 /CNW Telbec/ - National Bank of Canada (TSX: NA)
announced today that it has filed with securities regulators and is mailing to
shareholders its Notice of Annual Meeting, to be held on April 24, 2013 in
Moncton, New Brunswick, as well as its Management Proxy Circular. The Circular
is available at www.nbc.ca/circular.
In particular, the Circular contains detailed information on the Bank's Annual
Meeting, the nominees for the 15 director positions and the Board's approach
to executive compensation for the fiscal year ended October 31, 2012. Pierre
Boivin is a new nominee for the position of director.
"Despite strong competition and slower economic growth, the Bank advanced its
strategic priorities to outperform last year's financial results, with gains
in both net income and revenues, up 34% and 14% respectively. This success
rests on the implementation of several initiatives in the context of the One
client, one bank, transformation, the senior management team and the
dedication of nearly 20,000 employees," said Jean Douville, Chairman of the
Given the financial results and the fact that Louis Vachon once again exceeded
his objectives for fiscal 2012, the Board approved total direct compensation
of $7.15 million, compared to $7.25 million in 2011. The target total direct
compensation of the President and Chief Executive Officer was $7.0 million in
2012, unchanged from the previous year.
National Bank's Board will again put its approach to executive compensation to
an advisory vote of its shareholders, having been one of the first to do so in
The Circular also includes information related to the Board of Directors and
its committees, the election of directors and the appointment of the auditor,
as well as proposals submitted by a shareholder.
About National Bank of Canada
With $184 billion in assets as at January 31, 2013, National Bank of Canada
(www.nbc.ca), together with its subsidiaries, forms one of Canada's leading
integrated financial groups, and has been named among the five strongest banks
in the world by Bloomberg Markets. The Bank has close to 20,000 employees and
is widely recognized as a top employer. Its securities are listed on the
Toronto Stock Exchange (TSX: NA). Follow the Bank's activities via social
media and learn more about its extensive community involvement at
clearfacts.ca and commitment.nationalbank.ca.
(The telephone number provided below is for the exclusive use of journalists
and other media representatives.):
Claude Breton Senior Director - Public Affairs National Bank Tel.: 514-394-8644
SOURCE: National Bank of Canada
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-0- Mar/28/2013 16:53 GMT
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