Credit Suisse CEO Thiam hauls in 12.7 million Sfr 2018 pay package By Reuters

© Reuters. CEO Thiam of Swiss bank Credit Suisse awaits the company

© Reuters. CEO Thiam of Swiss bank Credit Suisse awaits the company’s annual news conference in Zurich

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By Brenna Hughes Neghaiwi

ZURICH (Reuters) – Credit Suisse (SIX:) Chief Executive Tidjane Thiam was awarded 12.65 million Swiss francs ($12.74 million) in total compensation in 2018, the group’s annual report showed on Friday.

The 30 percent boost over last year’s award placed him amongst the top earners in the European banking sector, which the bank said reflected his successful stewardship of a three-year turnaround completed in December.

The 12 members of the executive board overall were awarded 93.5 million francs between fixed pay and short- and long-term incentives, which vest over the course of several years and are contingent upon hitting a number of targets.

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