Bharat Masrani, who helped oversee Toronto-Dominion Bank’s $25 billion U.S. expansion, is likely to add to that business when he takes over next year as chief executive officer of Canada’s second-biggest bank.
Bank of Montreal, Canada’s fourth- largest lender, awarded Chief Executive Officer William Downe C$9.22 million ($9.03 million) in 2012 compensation, a 6.8 percent drop from a year earlier, after the bank missed some financial targets.
Bank of Nova Scotia, Canada’s third- biggest lender, awarded Chief Executive Officer Richard Waugh C$11.1 million ($10.8 million) in total compensation last year, a 4.6 percent increase, as the bank posted record profit.
Toronto-Dominion Bank Chief Executive Officer Edmund Clark came to Wall Street this week with a simple recipe for bankers trying to avert another financial crisis: more transparency and less arrogance.
Royal Bank of Canada, Canadian Imperial Bank of Commerce and Toronto-Dominion Bank reported first-quarter profits that topped analysts’ estimates on record earnings from personal and commercial lending.