Top executives at M&T Bank are not immune to the woes of the financial industry.
Restrictions set forth in the federal Troubled Asset Relief Program have meant that several of M&T Bank’s top employees will not get bonuses, and will take pay cuts as well.
M&T Bank’s Chairman and Chief Executive Officer, Robert Wilmers, will personally be taking a salary cut of more than a half million dollars. Wilmer’s salary will be reduced to about two million dollars after the cut.
Restrictions set forth in the federal Troubled Asset Relief Program have meant that several of M&T Bank’s top employees will not get bonuses, and will take pay cuts as well.
M&T Bank’s Chairman and Chief Executive Officer, Robert Wilmers, will personally be taking a salary cut of more than a half million dollars. Wilmer’s salary will be reduced to about two million dollars after the cut.
Copyright 2010 The E.W. Scripps Co. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Work From Home
Learn from world's #1 internet wealth advocate for making money on line, Stephen Pierce.
Work From Home
Learn from world's #1 internet wealth advocate for making money on line, Stephen Pierce.
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