Radical Party distances itself from big banks
Switzerland’s centre-right Radical Party has taken a stance against outsized bonuses for bankers.
In a statement issued on Monday, the party took issue with Credit Suisse, whose CEO Brady Dougan is to receive a bonus of SFr17.9 million ($16.6 million) for the year 2009.
According to the Radical Party, the sum does not reflect the work performed or the business risk involved.
The party’s executive committee recommends that the bank’s shareholders reject Credit Suisse’s remuneration report.
The party also demands that large banks give bonuses in line with their success. However, it does not see the need for a legal limit on bankers’ salaries.
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