, Columnist
Credit Suisse's Captain Clueless Gets a Pay Raise
Why didn't Credit Suisse cut a better deal with the Justice Department years ago like UBS did?
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Proxy advisers, like anyone else, can get pretty emotional. Take Dominique Biedermann. He runs Ethos, the largest proxy adviser in Switzerland, which recently recommended that Credit Suisse Group AG shareholders reject the bank's compensation plan.
"It is shocking that management compensation has been increasing ever more for two consecutive years," Biedermann said, according to a Bloomberg News article today. "It is high time to show the board of directors that many shareholders have lost their trust in them. We are no longer willing to support the way our bank is being managed."