CREDIT Suisse boss Brady Dougan took $14m (£8.67m) in pay in 2010, despite the bank’s shares losing a quarter of their value.
Dougan’s fixed pay doubled to SwFr2.5m (£1.7m) and was topped by a SwFr10.2m bonus, making him one of the world’s highest-paid bankers for the second year.
But Dougan’s total pay of SwFr12.8m was down a third from 2009, when he also received shares worth some SwFr71m under a five-year bonus plan.
Dougan was also not the highest paid banker at Credit Suisse. That position went to Antonio Quintella, chief executive of Credit Suisse Americas, who received total compensation of SwFr15.6m.
His base pay is lower than that of rival UBS’ chief executive Oswald Gruebel’s, but Gruebel took no bonus for the second consecutive year in 2010, citing a fall in his bank’s share price. UBS shares lost 4.3 per cent in 2010, while Credit Suisse shares fell by 26.43 per cent. Credit Suisse cut the total 2010 bonus pool by 27 per cent to about SwFr5.05bn.