View all newsletters
Have the short, sharp Spear's newsletter delivered to your inbox each week
  1. Wealth
October 21, 2009

FT: Credit Suisse first int’l bank with new bonus plans

By Spear's

Credit Suisse on Tuesday became the first big international bank to respond formally to regulatory demands to reform pay, with plans to increase the proportion of bonuses to its top earners paid over a period of years and reflecting their longer-term performance.

Credit Suisse on Tuesday became the first big international bank to respond formally to regulatory demands to reform pay, with plans to increase the proportion of bonuses to its top earners paid over a period of years and reflecting their longer-term performance.

About 7,000 of the Swiss bank’s 47,000 staff were briefed about the new system, designed to reflect demands from the group of industrialised and developing countries as well as the Financial Stability Board and the Swiss regulator.

The innovations also come after calls from the UK Treasury for leading international banks to revise pay systems to avoid failings that might have contributed to the credit crisis.

The changes form part of an effort by global investment banks to comply with the reforms adopted at last month’s G20 summit and to assuage growing anger at bankers’ remuneration.

To read the full story, visit ft.com

Content from our partners
Meet the females leading in the FTSE
A cut above: Charles Sanford on why HNW clients choose LGT Wealth Management
How the Thuso Group’s invaluable experience and expertise shaped the Spear’s Schools Index 2024

Select and enter your email address The short, sharp email newsletter from Spear’s
  • Business owner/co-owner
  • CEO
  • COO
  • CFO
  • CTO
  • Chairperson
  • Non-Exec Director
  • Other C-Suite
  • Managing Director
  • President/Partner
  • Senior Executive/SVP or Corporate VP or equivalent
  • Director or equivalent
  • Group or Senior Manager
  • Head of Department/Function
  • Manager
  • Non-manager
  • Retired
  • Other
Visit our privacy policy for more information about our services, how New Statesman Media Group may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications.
Thank you

Thanks for subscribing.

Websites in our network