Top Boss Makes $17.9m In 2009

The Wall Street Journal reports that Credit Suisse CEO Brady Dougan made $17.9m for his work in 2009 - a base salary of $1.2m, and bonuses totalling $16.7m.

The newspaper also reports that Credit Suisse's 13-person executive committee made $139m between them last year, while the bank's board took $20.7m.

In the meantime, The Times reports that City brokers like Numis and Panmure Gordon have been spared the imposition of the UK bank payroll tax, as the UK Treasury has belatedly announced that the tax will not apply to companies which have less than $149m in capital on their balance sheets.

And talking of the bank payroll tax, The Guardian reports that the once-off grab raised some $3bn for the UK coffers, although has done untold damage as the UK is now regarded by international companies as having an uncertain tax regime. Fears are growing that firms will scale back their operations in the UK, or at least not undertake any more expansion here due to the relatively heavy tax burdens.

Finally, Bloomberg reports that Sharon Bowles, the chairwoman of the EU's Economic and Monetary Affairs Committee, has suggested that bankers should receive their bonuses in 5-year subordinated debt, rather than cash and / or shares, as a means to prevent undue risk-taking and align payouts more to long term performance.

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