Credit Suisse boss sees pay fall 50%

The pay of Credit Suisse chief executive Brady Dougan fell by more than half last year to SFr5.8 million (£4m) in salary and share-based bonuses as the bank’s profit shrank 62 per cent and its shares dropped 41 per cent.

In its annual report yesterday, the bank said: “This level of compensation reflects the lower financial performance compared to the prior year and the lower share price and also recognises Dougan’s contribution to the long-term strategy and positioning of the firm in a changing regulatory and industry environment.”