Bloomberg the Company & Products

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

CIBC Awards McCaughey C$9.3 Million in Pay for 2013

March 17 (Bloomberg) --Canadian Imperial Bank of Commerce paid Chief Executive Officer Gerald McCaughey C$9.3 million ($8.4 million) in direct compensation for 2013, an increase of less than 1 percent from a year earlier.

McCaughey received a salary of C$1.5 million, a C$3.12 million cash bonus and C$4.68 million in shares, stock options and long-term incentives, the Toronto-based lender said today in a filing. That’s compared with total pay of C$9.24 million in 2012. The amounts exclude pension costs.

McCaughey led Canadian Imperial, the country’s fifth-largest bank, to record profit of C$3.35 billion last year, up 1.8 percent from 2012. The lender beat its financial targets for earnings-per-share growth, while missing for revenue growth, according to the filing.

The bank awarded Chief Operating Officer Richard Nesbitt C$7.18 million for 2013, an increase from C$7.14 million a year earlier. David Williamson, group head of retail and business banking, received C$4.24 million, compared with C$3.95 million in 2012.

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.