Credit Suisse exec named as top-earning European banking chief

26 March 2010

Brady Dougan, the chief executive officer of Credit Suisse, was the top-earning head of a European bank last year, it has been revealed.

Mr Dougan took home a salary of $18.2 million in 2009, putting him well ahead of many of his counterparts on the other side of the Atlantic, reports the Financial Times.

While Wells Fargo's chief executive John Stumpf made $21.3 million, Mr Dougan was better paid than Jamie Dimon from JPMorgan Chase, who made $16 million and Lloyd Blankfein, who took home a total of $9.8 million for his work at Goldman Sachs.

Mr Dougan was well ahead of his European rivals, with Josef Ackermann of Deutsche Bank receiving $12.69 million last year.

Last month, Credit Suisse reported net income of 793 million Swiss francs ($746 million) for 2009, marking a return to profit after recording a deficit of more than six billion Swiss francs in 2008.

By Claire Archer

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