MONTREAL, March 28, 2013 /CNW Telbec/ - National Bank of Canada (TSX:
NA) announced today that it has filed with securities regulators and is
mailing to shareholders its Notice of Annual Meeting, to be held on
April 24, 2013 in Moncton, New Brunswick, as well as its Management
Proxy Circular. The Circular is available at www.nbc.ca/circular.
In particular, the Circular contains detailed information on the Bank's
Annual Meeting, the nominees for the 15 director positions and the
Board's approach to executive compensation for the fiscal year ended
October 31, 2012. Pierre Boivin is a new nominee for the position of
director.
"Despite strong competition and slower economic growth, the Bank
advanced its strategic priorities to outperform last year's financial
results, with gains in both net income and revenues, up 34% and 14%
respectively. This success rests on the implementation of several
initiatives in the context of the One client, one bank, transformation, the senior management team and the dedication of
nearly 20,000 employees," said Jean Douville, Chairman of the Board.
Given the financial results and the fact that Louis Vachon once again
exceeded his objectives for fiscal 2012, the Board approved total
direct compensation of $7.15 million, compared to $7.25 million in
2011. The target total direct compensation of the President and Chief
Executive Officer was $7.0 million in 2012, unchanged from the previous
year.
National Bank's Board will again put its approach to executive
compensation to an advisory vote of its shareholders, having been one
of the first to do so in Canada.
The Circular also includes information related to the Board of Directors
and its committees, the election of directors and the appointment of
the auditor, as well as proposals submitted by a shareholder.
About National Bank of Canada
With $184 billion in assets as at January 31, 2013, National Bank of
Canada (www.nbc.ca), together with its subsidiaries, forms one of Canada's leading
integrated financial groups, and has been named among the five
strongest banks in the world by Bloomberg Markets. The Bank has close
to 20,000 employees and is widely recognized as a top employer. Its
securities are listed on the Toronto Stock Exchange (TSX: NA). Follow
the Bank's activities via social media and learn more about its
extensive community involvement at clearfacts.ca and commitment.nationalbank.ca.
SOURCE: National Bank of Canada
