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Darryl White of the Financial institution of Montreal acquired $11.2m in direct compensation, which incorporates wage, bonuses, and stock- and option-based awards, falling in need of the $11.8m goal set by the board.
This discount in pay displays the financial institution’s failure to fulfill its 2023 targets amidst elevated US regional banking instability and international financial uncertainty.
Notably, BMO accomplished the acquisition and integration of San Francisco-based Financial institution of the West throughout the identical interval. White’s whole compensation, together with pension quantities and non-cash advantages, was $12.5m, a lower from $14.3m the earlier 12 months.
Scott Thomson, moving into the CEO position at Scotiabank on February 1, noticed his compensation prorated, with the board awarding him $7.7m in direct pay, $1m beneath his goal.
Regardless of earnings falling in need of expectations, Thomson launched into a complete overview of the enterprise, laying down strategic foundations for future development. His whole compensation stood at $9.4m.
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