C Suisse chief receives $4.7m for first six months

Tidjane Thiam

Credit Suisse CEO Tidjane Thiam received $4.7m for his first six months on the job, when he mapped out a strategy for the Swiss bank that he has since been forced to accelerate.

Bloomberg News reports that Thiam, 53, who joined in July, received a bonus of $2.9m and a base salary of $1.64m as well as around $133,000 in benefits, Credit Suisse said in its annual report Thursday. He also received $14.65m to compensate for pay he gave up when he left his previous position as CEO of Britain’s Prudential.

Thiam “requested that his target level of compensation discussed at the time he joined Credit Suisse be reduced by 40%, given the weaker financial performance of the group during 2015,” the bank said. The request was approved “despite his excellent performance.”

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

Credit Suisse Pays Thiam $4.7 Million in 2015 After Pay Cut

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