Bloomberg reports that Dougan’s pay of $8.2m included fixed salary of $2.64m, $3.17m in short-term and $2.11m in long-term variable compensation, Credit Suisse said Friday in its annual report.
The bank paid Dougan $6.15m for 2011.
The highest-paid member on Credit Suisse’s executive board was Robert Shafir, who currently co-heads the private banking and wealth management division. He earned $11.2m for 2012 compared with total pay of $8.99m for 2011.
Dougan said in an interview this month that pay for bankers is still outpacing shareholder returns, a dynamic that will change once the bank completes an overhaul of its business model.
'In the past few years, certainly, the shareholders have taken a bigger reduction in their returns than labor has within the business model', Dougan, 53, said in the interview with Bloomberg Television’s Erik Schatzker. 'That’s not sustainable. That’s not right'.
Hit the link below to access the complete Bloomberg article:
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