* EU bonus curb could affect a few hundred CS bankers
* CS does not fear shareholder revolt over pay
ZURICH, March 15 Credit Suisse chief
Brady Dougan does not see major problems from Swiss plans for
strict curbs on executive pay, nor is he concerned about
warnings of an exodus of bankers due to the European Union's
plans to cap bonuses.
"People are always writing about bankers leaving. In the
end, not so many tend to move and I think that will also be the
case this time," Dougan was quoted saying in Germany's
Handelsblatt newspaper in an interview published on Friday.
The EU agreed last month to bar bankers from getting bonuses
bigger than their base salaries, while Swiss citizens voted
earlier this month to give shareholders a binding vote on
executive pay at all listed companies.
Dougan said the EU plan - being challenged by Britain -
could affect a few hundred Credit Suisse bankers and likely lead
to fixed salaries being increased in some areas, making
personnel costs less flexible.
"Some employees will probably leave London and would rather
go to New York or Zurich," he said.
Dougan said he did not see a major upset from the new Swiss
rules as management was in regular contact with shareholders and
was constantly reviewing its compensation practices.
"As long as the board and management continue to do the
right thing for shareholders, I don't see any problems arising
from that," he said, noting a large proportion of Credit Suisse
bonuses were already paid out in deferred share programmes.
"We are already doing a lot to align the interests of
shareholders and employees."
Credit Suisse is expected to disclose its top management and
board pay for 2012 on March 22 and will hold its annual
shareholder meeting on April 26.
Rival UBS drew fire on Thursday after announcing
it paid CEO Sergio Ermotti almost $9 million in 2012 and had
welcomed a new investment bank chief with a $26 million package,
just as the Swiss bank is in the process of firing 10,000 staff.