Pay Rises
Credit Suisse is the latest Swiss company to raise executive pay ahead of next year, when shareholders in the Alpine state will have a binding vote on compensation.
CEO Brady Dougan received 9.79 million francs in 2013, up 26 percent after the bank increased profits and strengthened its balance sheet against potential loan losses. But it missed its target for underlying return on equity, which came in at 10 percent compared with a target of 11 percent.
By comparison, UBS chief Sergio Ermotti got a 21 percent pay increase last year.
Dougan faced criticism from shareholders and the Swiss public in 2010 when he received about 70 million francs in shares from a 2004 stock-linked bonus plan, as well as being awarded 19 million in compensation for 2009.
Credit Suisse said it had increased its total bonus pool for 2013 by 5 percent to 3.6 billion francs, compared with a 14 percent increase in 2012.
Seeking a settlement in the tax dispute, the lender has already handed over data on its business, employees and customers to U.S. authorities. But Dougan in testimony to U.S. senators in February said the bank had uncovered only "scattered evidence" of improper conduct.
Dougan said its top managers were not aware a small group of Swiss-based private bankers helped U.S. customers hide income and assets.
The bank said on Thursday it would reduce previously reported fourth-quarter and 2013 results by 468 million francs after taxes to mainly reflect the U.S. tax deal provision, resulting in a fourth-quarter net loss of 476 million francs.
It had already in March restated its fourth-quarter results after a 275 million franc charge to settle lawsuits over mortgages sold to U.S. institutions Fannie Mae and Freddie Mac.