Bank of America CEO Brian T. Moynihan, 53, was awarded $12m, while Jamie Dimon, 57, at JPMorgan saw his pay halved to $11.5m. Citigroup paid its new CEO, 52-year-old Michael Corbat, $11.5m.
'It’s probably one of the first examples ever of a Canadian bank CEO being abreast of a mighty U.S. bank', said Michael Smedley, who helps manage C$1bn at Morgan Meighen& Associates in Toronto. 'There seems to be some justification for seeing a parallel'.
Canadian bank CEO pay is moving closer to U.S. rivals - and in some cases surpassing them - after the world’s soundest banks withstood the global financial crisis and several posted record earnings in 2012.
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