Credit Suisse executives earned 12% less in total aggregate compensation in 2020, the bank’s annual report showed on Thursday, as bonuses were hit by legal matters, anticipated credit losses and a hit from a writedown in its asset management business.
Executives were awarded 68.4 million Swiss francs ($74.08 million), the report showed, while CEO pay also fell.
Chief Executive Thomas Gottstein became head of the bank last February after the abrupt departure of predecessor Tidjane Thiam.
-Reuters