C Suisse shareholders told to reject bonus plan

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Credit Suisse shareholders should reject the $36m in bonuses the bank is proposing to pay top managers for 2015 after the year wound up as a loss, two advisory groups say.

Bloomberg News reports that Ethos, a Swiss shareholder group whose clients include pension funds, also questioned Chief Executive Officer Tidjane Thiam’s decision to scale back, rather than scrap, the investment banking division as part of an overhaul prioritizing wealth management. A strong investment bank is crucial to managing wealth, Thiam has said.

"A full disposal of the investment bank would have been a convincing solution to reduce the bank’s risk-weighted assets while bringing new funds to the healthy businesses of the bank," Ethos said in a note sent to clients seen by Bloomberg.

To access the complete Bloomberg News article hit the link below:

Credit Suisse Shareholders Advised to Reject Executive Bonuses

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