Credit Suisse bosses wages halved in 2011

Reported by AAP
Friday, March 23, 2012

Currency Converter

Mark BourisMyths bustedHome loans can seem a bit complicated and overwhelming. But it doesn't have to be. Mark Bouris clears up some common misconceptions.

Executives at Swiss banking giant Credit Suisse saw their pay packets shrink by about half in 2011, according to the bank's annual compensation report which was published on Friday.

In 2010, each top manager at the bank took home an average of 10 million francs ($A10.53 million) in basic wages and bonuses, but in 2011, each earned an average of 5.4 million francs.

Chief executive Brady Dougan, who made 12.8 million francs in 2010, was paid 5.8 million francs for 2011.

The bank posted a 62 per cent drop in net profits for 2011 to 1.95 billion francs, although it issued an optimistic outlook for 2012.

25/07/2014 10:22Sydney, Australia. 25 July,2014
advertisement