The chief executive of Scotiabank saw his total compensation for last year fall compared with 2018.
In its management proxy circular, the bank says Brian Porter earned $12.6-million in total compensation last year, down from nearly $13.3-million in 2018.
Mr. Porter’s pay for 2019 included $1.3-million in salary, nearly $5.6-million in share awards, nearly $1.4-million in option awards, a cash bonus of $2.3-million, $2-million in pension value and $3,500 in all other compensation.
That compared with a 2018 pay packet that included $1.2-million in salary, $6-million in share awards, $1.5-million in option awards, a cash bonus of $2.5-million, $2-million in pension value and $3,000 in all other compensation.
Scotiabank earned nearly $8.8-billion in its 2019 financial year, up from $8.7-billion in its 2018 financial year.
Mr. Porter isn’t the only chief executive of a big Canadian bank to see his total compensation for 2019 decline. TD Bank chief executive Bharat Masrani saw his total compensation drop nearly 18 per cent compared with 2018.
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