C Suisse pay surprise

Soccer: 2016 Copa America Centenario-Brazil at Peru

The last place you’d expect to find one of Credit Suisse’s highest-paid executives in 2015 is Brazil, given all the political and economic challenges facing the country.

Bloomberg News reports that Sergio Machado’s $14m paycheck ranks above that of every member of Credit Suisse’s executive board listed in the bank’s annual report.

The income tax statement of Machado, 38, the former head of Credit Suisse’s Brazil fixed-income business, is all local bankers are talking about after it was leaked along with a package of court documents.

In the meantime, Bloomberg also reports that Credit Suisse placed five employees on leave while it conducts an internal investigation, a spokeswoman for the bank said.

The five worked on Credit Suisse’s Israel desk, focusing on initial public offerings for Israeli technology companies, Swiss newspaper Schweiz am Sonntag reported Sunday, citing internal sources.

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