Mr Renyi received a bonus of $1.2m last year, compared to $3m the previous year. His salary remained unchanged at $1m.
The bank said in a proxy filing with the US Securities and Exchange Commission that 'if performance goals are not met, awards are scaled down.'
Bank of New York Cuts Chief's Bonus
Thomas Renyi is chairman and chief executive of the Bank of New York. As banking profits go, 2001 was not unkind to the bank and trust company. The 2001 net earnings came in at $1.3bn compared to $1.4bn in 2000. The top man, however, took a bonus cut of around 60%.
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