This week we have been revealing details of how much money the CEOs at Canada’s leading banks took home during 2015: and today we can add another name to that list.
This time it’s the turn of Brian Porter, CEO at the Bank of Nova Scotia, the third largest lender in Canada. During the last fiscal year he enjoyed a neat 4.6 per cent rise in his package – pocketing $9.28 million.
So how do his finances break down?
Over the year, Porter scooped $8.28 million in options, annual bonus and share awards. This was accompanied by his basic salary of $1 million. The total, which excludes pension funds, represents a rise from $8.87 million during the fiscal year 2014.
In a filing, the company said: “Mr. Porter continued to demonstrate his strong commitment to shaping and executing the bank’s long-term strategy. The increase in total compensation is due to the increase in his equity target and award reflecting his experience in the role, as well as his performance.”
Overall for the fiscal year, Scotiabank enjoyed a profit of $7.2 billion – although this was down 1.2 per cent compared to the prior year. It had 4.8 per cent earnings per share growth – which was short of its five-10 per cent target.