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Yes, Canadian Banker, There Is a Santa Claus

Country’s six-biggest lenders prepare to hand out $11.3 billion of bonuses

It’s the most wonderful time of the year … to work in the capital-markets divisions of Canada’s six-biggest banks. Variable compensation set aside at Royal Bank of Canada, Toronto-Dominion Bank, Bank of Nova Scotia, Bank of Montreal, Canadian Imperial Bank of Commerce and National Bank of Canada gained 11 percent to a combined C$14.3 billion ($11.3 billion) amid a record year for trading revenue and investment-banking fees. Bonuses at the nation’s lenders are based on performance and are typically distributed this month.

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