Bloomberg News reports that Norges Bank, Norway’s sovereign wealth fund, met with Credit Suisse board members including Chairman Urs Rohner a number of times to determine how it would vote at this month’s shareholder meeting. Executive remuneration was a focus of the agenda, it said in a statement Tuesday.
With the meeting just two weeks away, Credit Suisse on Friday sought to calm an outcry by proposing to lower bonuses for top executives and to freeze pay for the board of directors. At least four advisory groups had complained that the compensation was excessive given the bank’s $2.7bn last year.
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