TrustCo Bank Corp NY Management
Management criteria checks 3/4
TrustCo Bank Corp NY's CEO is Rob McCormick, appointed in Jan 2004, has a tenure of 20.83 years. total yearly compensation is $3.06M, comprised of 34.5% salary and 65.5% bonuses, including company stock and options. directly owns 1.96% of the company’s shares, worth €13.40M. The average tenure of the management team and the board of directors is 7.9 years and 7 years respectively.
Key information
Rob McCormick
Chief executive officer
US$3.1m
Total compensation
| CEO salary percentage | 34.5% |
| CEO tenure | 20.8yrs |
| CEO ownership | 2.0% |
| Management average tenure | 7.9yrs |
| Board average tenure | 7yrs |
Recent management updates
Recent updates
CEO Compensation Analysis
| Date | Total Compensation | Salary | Company Earnings |
|---|---|---|---|
| Sep 30 2024 | n/a | n/a | US$47m |
| Jun 30 2024 | n/a | n/a | US$49m |
| Mar 31 2024 | n/a | n/a | US$53m |
| Dec 31 2023 | US$3m | US$1m | US$59m |
| Sep 30 2023 | n/a | n/a | US$70m |
| Jun 30 2023 | n/a | n/a | US$74m |
| Mar 31 2023 | n/a | n/a | US$76m |
| Dec 31 2022 | US$3m | US$975k | US$75m |
| Sep 30 2022 | n/a | n/a | US$71m |
| Jun 30 2022 | n/a | n/a | US$68m |
| Mar 31 2022 | n/a | n/a | US$65m |
| Dec 31 2021 | US$3m | US$975k | US$62m |
| Sep 30 2021 | n/a | n/a | US$59m |
| Jun 30 2021 | n/a | n/a | US$56m |
| Mar 31 2021 | n/a | n/a | US$53m |
| Dec 31 2020 | US$3m | US$975k | US$52m |
| Sep 30 2020 | n/a | n/a | US$53m |
| Jun 30 2020 | n/a | n/a | US$53m |
| Mar 31 2020 | n/a | n/a | US$57m |
| Dec 31 2019 | US$3m | US$975k | US$58m |
| Sep 30 2019 | n/a | n/a | US$60m |
| Jun 30 2019 | n/a | n/a | US$60m |
| Mar 31 2019 | n/a | n/a | US$61m |
| Dec 31 2018 | US$2m | US$975k | US$61m |
| Sep 30 2018 | n/a | n/a | US$53m |
| Jun 30 2018 | n/a | n/a | US$50m |
| Mar 31 2018 | n/a | n/a | US$47m |
| Dec 31 2017 | US$2m | US$880k | US$43m |
Compensation vs Market: Rob's total compensation ($USD3.06M) is above average for companies of similar size in the German market ($USD1.46M).
Compensation vs Earnings: Rob's compensation has been consistent with company performance over the past year.
CEO
Rob McCormick (60 yo)
20.8yrs
Tenure
US$3,060,935
Compensation
Mr. Robert Joseph McCormick, also known as Rob, has been President and Chief Executive Officer of TrustCo Bank Corp NY since January 2004 and its Chairman of the Board since January 01, 2019. He also serve...
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 20.8yrs | US$3.06m | 1.96% € 13.4m | |
| Executive VP & CFO | 9.9yrs | US$1.22m | 0.15% € 1.0m | |
| Executive VP & COO | less than a year | US$1.50m | 0.18% € 1.2m | |
| Executive Vice President of Commercial Banking | 20.8yrs | US$1.15m | 0.26% € 1.8m | |
| Chief Banking Officer | 5.9yrs | US$1.24m | 0.19% € 1.3m | |
| Senior VP & COO | less than a year | no data | no data | |
| General Counsel & Corporate Secretary | 9.8yrs | no data | 0.052% € 356.2k | |
| Senior VP & Chief Risk Officer | less than a year | no data | no data | |
| Executive VP & Treasurer | 14.8yrs | US$526.72k | 0.19% € 1.3m | |
| Senior VP & Chief Retail Banking Officer | less than a year | no data | no data | |
| Senior VP & Chief Lending Officer | no data | no data | no data |
7.9yrs
Average Tenure
58yo
Average Age
Experienced Management: TC50's management team is seasoned and experienced (7.9 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 19.8yrs | US$3.06m | 1.96% € 13.4m | |
| Honorary Director | no data | US$525.73k | no data | |
| Honorary Director | no data | US$867.22k | no data | |
| Independent Director | 29.8yrs | US$153.52k | 0.13% € 893.2k | |
| Honorary Director | no data | no data | no data | |
| Independent Director | 19.3yrs | US$153.52k | 0.085% € 582.1k | |
| Independent Director | 8.8yrs | US$153.52k | 0.014% € 93.8k | |
| Lead Independent Director | 7yrs | US$153.52k | 0.014% € 98.0k | |
| Independent Director | 4.3yrs | US$153.52k | 0.025% € 169.3k | |
| Independent Director | 4.3yrs | US$153.52k | 0.025% € 172.5k | |
| Independent Director | 3.2yrs | US$153.52k | 0.0094% € 64.3k | |
| Independent Director | 1.1yrs | US$42.02k | 0.0021% € 14.4k |
7.0yrs
Average Tenure
68yo
Average Age
Experienced Board: TC50's board of directors are considered experienced (7 years average tenure).