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Daily Digit: Credit Suisse CEO pay jump

Friday, March 22, 2013 - 01:02

March 22 - Credit Suisse upped the remuneration of Chief Executive Brady Dougan by one third in 2012, likely adding to public and political dismay over the scale of banker pay in a year when the Swiss bank's stock stalled. Hayley Platt reports.

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7.77 million Swiss francs ($8.22 million) is today's Daily Digit in Europe - the pay packet of Credit Suisse CEO Brady Dougan. It's a third more than he earned in 2011 and comes at time when the bank is cutting costs and jobs and has seen its share price stall. It also places the spotlight firmly back on banker's pay. Another senior Credit Suisse executive earned more than $11 million last year, 2 million more than a year ago. And just last week rival UBS disclosed a near $9 million payout for its CEO Sergio Ermotti. Earlier this month, the country voted in some of the world's strictest controls on executive pay. Public companies must now give shareholders a binding vote on compensation. European officials are preparing similar legislation. Credit Suisse has vowed to cut costs by 4.4 billion francs by the end of 2015. And has already cut some 2,300 jobs.

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Daily Digit: Credit Suisse CEO pay jump

Friday, March 22, 2013 - 01:02