credit-suisse-releases-guidelines-governing-bonus-payouts

Credit Suisse releases guidelines governing bonus payouts

Credit Suisse announces new rules regarding compensation, increasing the fixed component for MDs and directors and linking variable compensation to return-on-equity.

Credit Suisse on Tuesday announced revised compensation practices effective January 1, 2010, that will also be applicable to 2009 bonuses.

Credit Suisse is changing the mix of bonus and salary payable to managing directors and directors, such that fixed salaries will be a larger component of the overall payout for employees at these senior levels. Vice-presidents and below will not be affected. Bonuses up to $100,000 will continue to be paid in cash. Higher amounts will be subject to deferral.

For deferred compensation Credit Suisse is introducing two new instruments scaled incentive share units sisu and adjustable performance plan awards appa. Deferred compensation will be paid half in sisu and half in appa. Up...

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