Top executives at M&T Bank are not immune to the woes of the financial industry.
Restrictions set forth in the federal Troubled Asset Relief Program have meant that several of M&T Bank’s top employees will not get bonuses, and will take pay cuts as well.
M&T Bank’s Chairman and Chief Executive Officer, Robert Wilmers, will personally be taking a salary cut of more than a half million dollars. Wilmer’s salary will be reduced to about two million dollars after the cut.
