BY PAUL O’DONOGHUE, Senior Correspondent
TD BANK cut CEO Bharat Masrani’s 2024 compensation by 89% after a long-running string of AML scandals cost the company billions and led to an asset cap in the U.S.
Masrani’s total pay dropped from C$13.3 million ($9.2 million) in 2023 to C$1.5 million in 2024 after the bank eliminated his cash incentive and equity awards. This follows a C$1 million pay cut last year.