C Suisse said set to make pay changes

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Credit Suisse is reviewing its pay structure for 12 top executives after scrapping profitability targets under a strategy introduced by new CEO Tidjane Thiam.

Bloomberg News reports that as part of the overhaul announced last month, Credit Suisse named six new members to its executive board, while four stepped down.

It also scrapped return-on-equity and cost-to-income ratios as targets. The bank had used both measures to evaluate the performance of executive board members.

“As a result of the comprehensive changes in our strategic direction and organizational structure announced on October 21, 2015, including management changes, the 2015 compensation structure is under consideration,” Credit Suisse said in a prospectus to shareholders Monday.

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

Credit Suisse Reviews Management Compensation After Overhaul

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