Credit Suisse shareholders grudgingly said yes to the Swiss bank's pay practices in 2009, after several hours of heated criticism focused on chief executive Brady Dougan's pay package that makes him one of the sector's best-paid bankers.
Two-thirds of shareholders approved the Swiss bank's pay report, which includes 6.85bn Swiss francs (€4.8bn) in overall bonuses, the bulk in cash. In the non-binding vote, nearly 30% of shareholders opposed it, which bank chairman Hans-Ulrich Doerig conceded illustrates many investors aren't satisfied with pay practices. Shareholders booed and hissed when the vote's result was read aloud.