At TD, incentive pay rose as the bank excluded the cost of U.S. penalties from profit calculations [Globe and Mail, The (Toronto, Canada)]
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Source: Globe and Mail, The
The TD tower on Georgia Street in Vancouver, B.C. on March 20. Isabella Falsetti/The Globe and Mail Toronto-Dominion Bank’s TD-T +0.40% increase money laundering misadventures in the United States resulted in more than $4-billion in penalties and other costs, taking a huge bite out of the company’s 2024 profits. Except, that is, in one special place: The performance formula used to calculate executive pay. In determining whether it had met its earnings goals in 2024, TD excluded the costs of paying the penalties the U.S. government assessed after the bank pleaded guilty to criminal charges arising from allowing the laundering of hundreds of millions of illicit dollars. A more accurate, lower, estimate of profits could have seen TD executives take an even bigger cut to incentive pay. Since TD’s board made a discretionary cut of 25 per cent to incentive pay, and gave former chief executive officer Bharat Masrani no bonus or stock awards at all, the money at issue is not particularly
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News
- First Horizon (NYSE:FHN) is now covered by analysts at Deutsche Bank Aktiengesellschaft. They set a "buy" rating on the stock.MarketBeat
- Justin Rutledge Joins First Horizon Bank as Charlotte Market President [Yahoo! Finance]Yahoo! Finance
- Justin Rutledge Joins First Horizon Bank as Charlotte Market PresidentPR Newswire
- First Horizon Corporation to Announce Fourth Quarter and Full Year Financial Results on January 15, 2026PR Newswire
- First Horizon (NYSE:FHN) was downgraded by analysts at Baird R W from a "strong-buy" rating to a "hold" rating.MarketBeat
FHN
Earnings
- 10/15/25 - Beat
FHN
Sec Filings
- 12/8/25 - Form 4
- 11/12/25 - Form 144
- 11/6/25 - Form 10-Q
- FHN's page on the SEC website