Royal Bank of Canada Management
Management criteria checks 3/4
Royal Bank of Canada's CEO is Dave McKay, appointed in Feb 2014, has a tenure of 10.25 years. total yearly compensation is CA$16.13M, comprised of 9.3% salary and 90.7% bonuses, including company stock and options. directly owns 0.003% of the company’s shares, worth CA$5.97M. The average tenure of the management team and the board of directors is 5.8 years and 7.5 years respectively.
Key information
Dave McKay
Chief executive officer
CA$16.1m
Total compensation
| CEO salary percentage | 9.3% |
| CEO tenure | 10.3yrs |
| CEO ownership | 0.003% |
| Management average tenure | 5.8yrs |
| Board average tenure | 7.5yrs |
Recent management updates
Recent updates
We Think Some Shareholders May Hesitate To Increase Royal Bank of Canada's (TSE:RY) CEO Compensation
Apr 05
Royal Bank of Canada (TSE:RY) Will Pay A Larger Dividend Than Last Year At CA$1.38
Jan 12Royal Bank of Canada (TSE:RY) Is Increasing Its Dividend To CA$1.38
Dec 13Royal Bank of Canada's (TSE:RY) Dividend Will Be Increased To CA$1.35
Jul 13Royal Bank of Canada (TSE:RY) Is Increasing Its Dividend To CA$1.32
Apr 05Royal Bank of Canada's (TSE:RY) Upcoming Dividend Will Be Larger Than Last Year's
Jan 20Royal Bank of Canada (TSE:RY) Is Increasing Its Dividend To CA$1.32
Dec 28Royal Bank of Canada (TSE:RY) Is Increasing Its Dividend To CA$1.32
Dec 03Here's Why We Think Royal Bank of Canada (TSE:RY) Is Well Worth Watching
Dec 01Royal Bank of Canada (TSE:RY) Is Increasing Its Dividend To CA$1.28
Jul 14Royal Bank of Canada (TSE:RY) Is Increasing Its Dividend To CA$1.28
Jun 23Royal Bank of Canada (TSE:RY) Is Increasing Its Dividend To CA$1.28
Jun 02CEO Compensation Analysis
| Date | Total Compensation | Salary | Company Earnings |
|---|---|---|---|
| Jan 31 2024 | n/a | n/a | CA$15b |
| Oct 31 2023 | CA$16m | CA$2m | CA$15b |
| Jul 31 2023 | n/a | n/a | CA$14b |
| Apr 30 2023 | n/a | n/a | CA$14b |
| Jan 31 2023 | n/a | n/a | CA$15b |
| Oct 31 2022 | CA$16m | CA$2m | CA$16b |
| Jul 31 2022 | n/a | n/a | CA$16b |
| Apr 30 2022 | n/a | n/a | CA$16b |
| Jan 31 2022 | n/a | n/a | CA$16b |
| Oct 31 2021 | CA$17m | CA$2m | CA$16b |
| Jul 31 2021 | n/a | n/a | CA$15b |
| Apr 30 2021 | n/a | n/a | CA$14b |
| Jan 31 2021 | n/a | n/a | CA$12b |
| Oct 31 2020 | CA$13m | CA$2m | CA$11b |
| Jul 31 2020 | n/a | n/a | CA$11b |
| Apr 30 2020 | n/a | n/a | CA$11b |
| Jan 31 2020 | n/a | n/a | CA$13b |
| Oct 31 2019 | CA$14m | CA$2m | CA$13b |
| Jul 31 2019 | n/a | n/a | CA$13b |
| Apr 30 2019 | n/a | n/a | CA$12b |
| Jan 31 2019 | n/a | n/a | CA$12b |
| Oct 31 2018 | CA$14m | CA$2m | CA$12b |
| Jul 31 2018 | n/a | n/a | CA$12b |
| Apr 30 2018 | n/a | n/a | CA$11b |
| Jan 31 2018 | n/a | n/a | CA$11b |
| Oct 31 2017 | CA$13m | CA$2m | CA$11b |
Compensation vs Market: Dave's total compensation ($USD11.72M) is above average for companies of similar size in the Canadian market ($USD8.28M).
Compensation vs Earnings: Dave's compensation has been consistent with company performance over the past year.
CEO
Dave McKay (60 yo)
10.3yrs
Tenure
CA$16,125,877
Compensation
Mr. David I. McKay, also known as Dave, has been the President of Royal Bank of Canada since February 26, 2014 and its Chief Executive Officer and Director since August 1, 2014. Mr. McKay is responsible fo...
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 10.3yrs | CA$16.13m | 0.0032% CA$ 6.0m | |
| Group Head of RBC Wealth Management & RBC Insurance | 1.3yrs | CA$7.56m | 0.00042% CA$ 791.0k | |
| Group Head of Personal & Commercial Banking | 7yrs | CA$7.21m | 0.00069% CA$ 1.3m | |
| Group Head & CEO of RBC Capital Markets | 4.5yrs | CA$10.51m | 0.0010% CA$ 1.9m | |
| Interim CFO & Controller | less than a year | no data | 0.00020% CA$ 376.7k | |
| Group Head of Technology & Operations | 10.3yrs | CA$7.89m | 0.00045% CA$ 847.5k | |
| Chief Legal & Administrative Officer | 2.7yrs | no data | no data | |
| VP & Head of Investor Relations | no data | no data | no data | |
| Senior Vice President of Communications | no data | no data | no data | |
| Chief Human Resources Officer | 1.9yrs | no data | 0.00024% CA$ 452.0k | |
| Deputy Chairman & Head of Ultra High Net Worth Clients-RBC Wealth Management | 18.5yrs | no data | no data | |
| Executive Vice President of Enterprise Services | 11.8yrs | no data | no data |
5.8yrs
Average Tenure
Experienced Management: RY's management team is seasoned and experienced (5.8 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 9.8yrs | CA$16.13m | 0.0032% CA$ 6.0m | |
| Independent Director | 6.6yrs | CA$340.00k | 0.00049% CA$ 922.8k | |
| Chairman of RBC Europe Ltd | 15.3yrs | no data | no data | |
| Corporate Independent Director | 8.3yrs | CA$633.46k | 0.00029% CA$ 546.2k | |
| Corporate Independent Director | 5.3yrs | CA$400.00k | 0.00068% CA$ 1.3m | |
| Independent Director | 8.8yrs | CA$400.00k | 0.00010% CA$ 188.3k | |
| Independent Chairman of the Board | 9.7yrs | CA$530.42k | 0.00014% CA$ 263.7k | |
| Independent Director | 3.8yrs | CA$340.00k | 0.00092% CA$ 1.7m | |
| Independent Director | 1.8yrs | CA$340.00k | 0.00027% CA$ 508.5k | |
| Independent Director | 9.3yrs | CA$340.00k | 0.00062% CA$ 1.2m | |
| Independent Director | 2.8yrs | CA$340.00k | 0.00041% CA$ 772.2k | |
| Independent Director | 4.3yrs | CA$375.00k | 0.000070% CA$ 131.8k |
7.5yrs
Average Tenure
62.5yo
Average Age
Experienced Board: RY's board of directors are considered experienced (7.5 years average tenure).