Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Bank of Montreal Boosts CEO’s Pay 3% to $8.6 Million

March 7 (Bloomberg) -- Bank of Montreal awarded Chief Executive Officer William Downe C$9.49 million ($8.6 million) in compensation for 2013, a 3 percent increase from a year earlier.

Downe, 61, received about C$1.28 million in salary, C$8.2 million in shares, stock options and incentives, plus C$13,050 in other compensation for the year, the Toronto-based lender said today in a filing. He received C$9.22 million for 2012. Both totals exclude pension costs.

Canada’s fourth-largest lender posted record annual profit of C$4.2 billion for fiscal 2013, up 0.9 percent from 2012, according to financial statements. Bank of Montreal met its medium-term objectives for adjusted earnings-per-share growth and return on equity for 2013, while missing its goal for operating leverage because of slowing revenue growth, the company said Dec. 3.

To contact the reporter on this story: Doug Alexander in Toronto at dalexander3@bloomberg.net

To contact the editors responsible for this story: Peter Eichenbaum at peichenbaum@bloomberg.net; David Scanlan at dscanlan@bloomberg.net Steven Crabill

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.