ZURICH, March 24 (Reuters) - Credit Suisse Chief Executive Tidjane Thiam received 11.9 million Swiss francs ($11.95 million) in 2016, Switzerland’s second-biggest bank disclosed in its annual report on Friday.
This compared to the 4.57 million francs he earned in 2015 after joining Credit Suisse on June 22. UBS Chief Executive Sergio Ermotti received 13.7 million francs for 2016.
Zurich-based Credit Suisse also said it had reached a settlement in principle to resolve a residential mortgage-backed securities (RMBS) case with the National Credit Union Administration Board (NCUA), deepening its 2016 net loss to 2.71 billion francs from 2.44 billion.
($1 = 0.9956 Swiss francs)
Reporting by Joshua Franklin