We use cookies to provide you with a better experience. If you continue to use this site, we'll assume you're happy with this. Alternatively, click here to find out how to manage these cookies

hide cookie message
RSS FeedGovernance

Credit Suisse braces for investor backlash


Investor lobby groups are advising shareholders to vote against the pay deals

Article comments

Credit Suisse is bracing for a backlash on Friday as investors seek a greater share of profits

An annual shareholder meetings at the bank could be heated as investors make it clear that staff and executives are getting too big a share of the spoils at the expense of shareholders.

The row has drawn in politicians and business leaders.

Unhappy investors have warned British banks to brace for a sell-off in their shares unless there is real action to stamp out excessive pay. Discontent is also clear among shareholders elsewhere in Europe and in the US, with the issue becoming a lightning rod for investors dissatisfied with the paltry returns they are getting.

Ethos, an influential group that makes recommendations to Swiss pension funds, said investors should vote against the pay plans at Credit Suisse, complaining that its bonus policy is still too high and opaque.

Shareholders in US bank Citigroup surprisingly voted down its executive pay plan last week, while protesters at Wells Fargo's AGM turned up with a huge inflated rat, pockets stuffed with dollar bills.

Share:

Recommended Articles

Comments

Credit Suisse braces for investor backlash
Governance

What’s going to kill your company?

What’s going to kill your company?

The role of the CFO and the board in strategic risk governancemore ..


Tesco’s new finance chief starts two months early amid accounting crisis

Marks and Spencer releases Alan Stewart early by to help deal with £250 million hole in Tesco’s accountsmore ..

Microsoft removes Bing image widget after Getty lawsuit

The company is being sued by Getty Images for copyright infringementmore ..

Apple loses bid for sales ban in Samsung patent case

Apple failed to show that it suffered enough harm as a result of Samsung's infringementmore ..

What makes a good board report?

Examining how CFOs can improve the way they report back to the boardmore ..

Examining the issue of corporate litigation funding

Litigation funding is a very useful tool for CFOs but not a panacea for all legal mattersmore ..

Send to a friend

Email this article to a friend or colleague:


PLEASE NOTE: Your name is used only to let the recipient know who sent the story, and in case of transmission error. Both your name and the recipient's name and address will not be used for any other purpose.



In Depth
Can finance rise to the challenge of major transformation?

Can finance rise to the challenge of major transformation?

Outdated finance processes, systems and competencies leave too many questions unanswered more ..

In Depth
Interim CFO or consultant? The pros and cons

Interim CFO or consultant? The pros and cons

Ed Harding offers an insight into the life of an interim CFO and the advantages in driving transformation more ..

Advertisement

* *