March 23, 2018 / 6:17 AM / 5 months ago

Credit Suisse CEO pay falls in 2017

ZURICH, March 23 (Reuters) - Credit Suisse Chief Executive Tidjane Thiam earned 9.7 million Swiss francs ($10.26 million) in 2017, a 5.3 reduction over his prior-year compensation, Switzerland’s second-biggest bank said on Friday.

The drop related to a decline in Thiam’s long-term incentive bonus, which foresees a future share payout contingent upon reaching certain targets over the next three years. The bank last year agreed to cut executive bonuses by 40 percent, including 2016 cash bonuses and 2017 share incentives, following shareholder dissent. ($1 = 0.9454 Swiss francs) (Reporting by Brenna Hughes Neghaiwi)

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