Credit Suisse pays out massive bonuses...

Banks are under renewed pressure over bonuses after Credit Suisse paid out SFr3 billion ($2.85 billion) to top managers from a share-based incentive scheme.

The scheme, dating back to 2005, saw managers receive an average of SFr7.7 million worth of shares with chief executive Brady Dougan pocketing SFr71 million. Critics point to another example of greed at top banks.

On Wednesday, Credit Suisse revealed details of how much the 400 investment bankers walked away with from its performance incentive plan (PIP). The figures were based on the value of the awarded shares when the scheme matured this year. More...

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