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Meanwhile, bank bonuses in other countries are going the other way.
Canada’s six biggest banks earmarked C$12.2 billion ($10.7 billion) for annual bonuses, 13 percent more than last year, as North American stock markets rose and investment-banking fees soared to a rec...
In response to the backlash surrounding RBC this week, and in particular, against RBC CEO Gordon Nixon, let's look at how CEOs are compensated. Last year, RBC posted record earnings of $7.5 Billion and CEO Nixon received a pay hike of $2.5 million with millions in stock and option-based awards, incentives, and bonuses -- for meeting or exceeding expectations set out by the board of directors. I thought that was pretty shocking until I read about other CEOs. What makes these people so valuable and worth so much to a company? Someone tell me please. The bottom line is that this type of financial abuse affects everyone.
Banks around the world are slashing bonuses and laying off staff this year, but not so in Canada, where profits at many of the largest financial institutions hit record highs in fiscal 2012, and where...