Bank of Montreal CEO William Downe’s compensation rose 2.1% to $10.2 million in 2015

Bank of Montreal awarded Chief Executive Officer William Downe $10.Two million in compensation for fiscal 2015, a couple.1 percent increase from the year earlier.

Downe, 63, received $1.88 million in salary, $8.27 million in shares, stock options and incentives, plus $16,625 in other compensation for that year ended Oct. 31, the Toronto-based lender said Tuesday in a regulatory filing. He received $9.96 million in fiscal 2014. The totals exclude pension values.

Canada’s fourth-largest lender posted record annual profit of $4.41 billion for 2015, up 1.7 per cent from the year earlier. Bank of Montreal surpassed its objective of earning $1 billion in annual make money from U.S. banking and wealth management, four years after Downe set the medium-term profit target.

Downe is “probably the most experienced CEO among the Canadian banks, and BMO’s performance in 2015 was good, surpassing the record highs of 2014,” the firm said within the filing. “These strong results are a reflection of the well-executed growth strategy.”

Bloomberg News

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