Credit Suisse's Pay Revamp Gets Blessing From Investor Groups
- Glass Lewis, ISS both approve 2017 compensation plan
- Management pay was cut, while bonus pool rose slightly
Photographer: Akos Stiller/Bloomberg
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As investors turn more positive on Credit Suisse Group AG’s turnaround plan, they’re also lifting the siege on the board over the bank’s compensation policy.
Shareholder groups ISS and Glass Lewis -- which make recommendations to shareholders on how to vote at the annual shareholder meetings of companies -- said investors should vote in favor of the Swiss bank’s remuneration proposals, approving both short-term and long-term incentive plans for executives and last year’s compensation for the board of directors.