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Total compensation rises for M&T executives

Rochester Business Journal
March 6, 2014

M&T Bank Corp. chairman and CEO Robert Wilmers received a base salary of $950,000 in 2013 and total compensation of nearly $3.7 million, including bonuses and stock awards, a filing on Thursday shows.

Wilmers’ base pay was down nearly 50 percent from $1.85 million received in 2012, the bank reported in a proxy statement filed with Securities and Exchange Commission. He received a bonus of $425,000, up from $195,000 in 2012, and stock awards of $1.9 million, up from $750,000.

The total package was 9 percent more than the nearly $3.4 million Wilmers received in 2012.

M&T’s other top executives also earned more last year in total compensation than in 2012.

Rene Jones, executive vice president and chief financial officer, earned $2.3 million, up from nearly $2 million in 2012.

Michael Pinto, who retired in January as vice chairman because of medical issues, received $3.65 million, up from $3 million.

Mark Czarnecki, president, received $3.4 million, up from $3 million.

Kevin Pearson, executive vice president, received $2.3 million, up from $2.1 million.

The Buffalo-based bank is the market leader in Rochester with local deposits of $3.8 million.

The company’s annual meeting of shareholders is slated for April 15 in Buffalo.

(c) 2014 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or email

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