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Brazil’s Riddle of Ex-Credit Suisse Banker’s $14 Million Pay

  • Tax record was revealed as part of package of court documents
  • Sergio Machado’s 2015 income topped pay for bank’s top leaders
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Ex-Credit Suisse Banker's $14M Brazilian Payday

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The last place you’d expect to find one of Credit Suisse Group AG’s highest-paid executives in 2015 is Brazil, given all the political and economic challenges facing the country.

But Sergio Machado’s 48.4 million reais ($14 million) paycheck ranks above that of every member of Credit Suisse’s executive board listed in the lender’s annual report. The income tax statement of Machado, 38, the former head of Credit Suisse’s Brazil fixed-income business, is all local bankers are talking about after it was leaked along with a package of court documents.