According to National Bank’s recent proxy circular, pay slumped for brokers, jumped for bankers at last year.

The circular reveals that National Bank Financial’s CEO, Kym Anthony, saw his salary fall from $400,000 in 2000 to $374,600 in 2001. The big hit for the brokerage chief was in the bonus though, where it dropped by almost $1 million, from $2.9 million in 2000 to $1.95 million in 2001.

By contrast, Jean Turmel, president financial markets, treasury and investment banking, saw his salary jump from $385,000 to $500,000. But his bonus went from just $802,000 in 2000 to $3.24 million; a third of which he took in deferred stock units.

Louis Vachon, senior vice president, treasury and financial markets, got a small salary hike, but saw his bonus more than double from $1 million in 2000 to $2.1 million in 2001. The bonuses in the Financial Markets, Treasury and Investment Banking sector are awarded based on the profitability of their respective groups.

In accordance with a service contract signed in February 2001 with National Bank Financial, Lawrence Bloomberg received $1,875,000 in his capacity as special advisor to NBF. He receives an annual retainer, commissions, an allowance for business development and reimbursement for various administrative expenses incurred when carrying out his functions.

The bank is also looking to boost the aggregate remuneration which may be paid to all its directors from $900,000 to $1.3 million. The directors’ pay hasn’t increased for 13 years, it says.