ORONTO (Reuters) – Bank of Montreal Chief Executive Bill Downe earned C$9.5 million ($9.8 million) in the bank’s fiscal 2010, a 28 percent raise from the previous year, as BMO’s profit rose and it made acquisitions in the wake of the financial crisis.
Downe earned a base salary of C$1.0 million last year, which actually was a decrease from his base salary of C$1.2 million in 2009, according to a regulatory filing.
But his cash bonus jumped 80 percent to C$2.9 million, and his stock-based compensation increased 20 percent to C$5.7 million.
Profit at BMO, Canada’s No. 4 bank, rose 57 percent to C$2.8 billion in 2010, up from C$1.8 billion in 2009, when the bank was stung by credit losses.
Toronto-Dominion Bank CEO Ed Clark’s pay rose 8 percent to C$11.3 million last year, while Royal Bank of Canada CEO Gordon Nixon earned C$11 million, up 5.8 percent from the previous year.
RBC and TD are Canada’s largest banks.
Since emerging from the crisis, BMO has begun making acquisitions as it seeks to increase its U.S. business. In December, it launched a $4.1 billion takeover bid for Wisconsin lender Marshall & Ilsley Corp.
The bank reports first-quarter 2011 results on Tuesday.
PROFIT ain’t a bad word…but when you lie to do it…why does society need morals? They lied about the gravity of market disruption in order to justify their price and policy changes; are Canadians willfully ignorant?
Th3UglyTruth 
Barclays CEO’s Pay Rises to as Much as 10.1 Million Pounds
March 07, 2011, 12:15 PM EST
More From Businessweek
By Jon Menon
(Updates with details of awards in eighth paragraph.)
March 7 (Bloomberg) — Barclays Plc gave Robert Diamond as much as 10.1 million pounds ($16.5 million) in salary, bonuses and stock, making him the U.K.’s top-paid bank chief executive officer as the government presses lenders to curb remuneration.
Diamond was awarded a 6.5 million-pound bonus for 2010 and a further 2.25 million pounds depending on the lender’s performance, London-based Barclays said in a statement today. His base salary will rise to 1.35 million pounds from 250,000 pounds after he became CEO on Jan. 1.