Popularized in films like Limitless, legal smart drugs called Nootropics are becoming more and more prevalent in board rooms and on Wall Street.Keep reading »
Okay, that’s not entirely fair- employees will receive some of the cash they earned in 2010 this year, some in 2012, a little in 2013, and the remainder of the payout in 2014 (all of which is subject to a clawback clause). Sound like fun? It’s the Swiss bank’s take on tantra.
Credit Suisse said Monday it will alter how it pays banker bonuses for 2010, taking into account shareholder criticism and increasing government involvement in year-end rewards.The Zurich-based bank’s cash bonuses will be paid out over four years—one-quarter annually—and be linked to Credit Suisse’s return-on-equity from next year to 2014. The return on equity over the four years represents the maximum potential for the cash awards to rise, Credit Suisse said. Cash bonuses can be clawed back should employee actions later prove to harm the bank, its reputation or earnings, Credit Suisse said.
In bonuses paid out as bank stock, Credit Suisse is removing leverage from 2010’s plan, which investors had criticized in past years because bankers could win additional shares depending on the bank’s share price, without ceding any shares if the stock slumped.Credit Suisse is also lowering to 50,000 Swiss francs ($51,500) the threshold for bonuses to be deferred as opposed to paid out in cash, from 125,000 francs previously.