Advisors defend Big Five salaries

Advisors defend Big Five salaries

Advisors defend Big Five salaries

Amongst the top 30 are: Gordon M. Nixon of the Royal Bank of Canada ($13,731,877), Richard E. Waugh of the Bank of Nova Scotia ($11,101,196), Edmund Clark of the Toronto-Dominion Bank ($10,884,239), Gerald T. McCaughey of CIBC ($9,931,000) and William A. Downe of the Bank of Montreal ($9,600,553).

Other financial services top dogs include: Donald Guloien of Manulife Financial Corp. ($10,878,678), R. Jeffrey Orr of Power Financial Corp. ($10,077,501), Dean A. Connor of Sun Life Financial Inc. ($7,970,689), Louis Vachon of National Bank of Canada ($7,677,015), Ned Goodman of Dundee Corp. ($4,514,966) and D. Allen Loney of Great-West Lifeco Inc. ($4,485,386).

Another Ontario advisor says enough with the Big Wig salary bashing. These executives work hard for their money and should be compensated accordingly.

“The rich earned what they deserve and rather than criticizing them, we should embrace what they have done, and learn from them rather that casting them out as evil,” writes Kevin Cahill in his latest Canadian Legacy Builder blog. “Life is like a long game consisting of a lot of educational values. The people that work hard within it get rewards in return.” (Continued on Page 3)


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