Top firm CEO - Staff shouldn't expect big pay rises

'You should not expect anything spectacular, but something fair'.

Bloomberg News reports that Credit Suisse CEO Tidjane Thiam, who agreed to accept a lower bonus this year, said employees shouldn’t think about a big pay rise for 2017 as the bank emerges from two years of restructuring.

“This year, with the improvement in results, there will be a balance,” Thiam said Tuesday in an interview on Bloomberg TV. “You should not expect anything spectacular, but something fair. Not a big increase compared to the previous year.”

Credit Suisse, among the few banks to boost its bonus pool in 2016, is heading into the final year of an overhaul aimed at reducing reliance on volatile trading in favor of wealth management and emerging markets. The restructuring has included raising 10 billion francs ($10.2 billion) from shareholders to strengthen capital, with Thiam saying that all options are on the table for returning cash to investors in the future as profitability improves.

Hit the link below to access the complete Bloomberg News article:

Credit Suisse CEO Says Staff Shouldn't Expect Big Raises

Credit Suisse CEO Says ‘Everything on Table’ to Return Profits

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