Zurich: Brady Dougan, Credit Suisse Group AG's chief executive officer, received 19.2 million Swiss francs (Dh66 million) in compensation last year, boosting his salary almost seven-fold.
Dougan's pay included 17.9 million francs in bonuses and a fixed-salary of 1.25 million francs, the Zurich-based bank said in its annual report, published yesterday. That made Dougan the highest-paid member of the executive board.
The CEO's compensation rose from 2.86 million francs in 2008 as Switzerland's biggest bank by market value returned to profitability. Deutsche Bank AG CEO Josef Ackermann saw his pay jump more than six-fold to 9.55 million euros (Dh46.8 million) after the Frankfurt-based bank restored earnings, while UBS AG's Oswald Gruebel declined a bonus and was paid 3 million francs in fixed salary after the Zurich-based company reported its third annual loss.
Credit Suisse, which set aside 6.87 billion francs in bonuses for 2009, said last month it deferred 40 per cent of the variable compensation into future years. Members of the executive board received only deferred awards, which may be reduced in the future based on company performance.
The executive board's total compensation for 2009 amounted to 148.9 million francs, including 132.4 million francs in bonuses.
