22 Oct 2009

Credit Suisse to change pay and bonus policies

2:06 pm on 22 October 2009

Credit Suisse is to change the way it pays its top executives, bringing its pay and bonus scheme in line with banking practices endorsed by G20 leaders last month.

From January, the Swiss investment bank will increase the base salaries of its top 7-thousand staff to compensate for new regulatory limits on bonuses.

The BBC reports changes include tying bonuses to specific financial measures and taking bonuses back if the bank's fortunes change.