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The clear rounding rules of the CS

After the discovery of the remuneration of the top of Credit Suisse, the wage debate in Switzerland has flared up again. And the question of whether CS-chief Tidjane Thiam is really a salary of 12.7 million Swiss francs in value, splits even professional observers: The US-proxy advisors Glass Lewis and the Swiss pension Fund consultant, Ethos opposed the remuneration report, the U.S. adviser ISS recommends against approval.

The debate is so fueled that, now every Detail is of major importance. How Decimal Places. The "NZZ on Sunday" that precedes genes week dealt with the role of foreign shareholders and their proxy advisors, as strong for the fast-paced wages growth is partly responsible. The blade was the wage of Thiam rounded with 13 million francs, to those of the Board of Directors Chairman Urs Rohner with 5 million francs.

specification in the "NZZ on Sunday" requires

Commercially this is correct, because as we know, you can round up values of 5 to the next higher number. Credit Suisse, however, went too far. Therefore, the big Bank pushed for a clarification, which appeared in yesterday's "NZZ on Sunday": "it is true that the remuneration is 12,65 million Swiss francs for the CEO and 4.7 million Swiss francs for the President," it means it.

This fussy correction raises the question: How, exactly, it takes the Credit Suisse with our own Figures? A view in the Communique to the results of the year of 14. February brings Surprises to light: Because there is talk of a "shareholders is on page 1, the attributable net profit of CHF 2.1 billion for 2018". On page 3, the reader will find then but in the key figures table has a different value: namely, exactly 2057 million Swiss francs.

Talk of rounding up numbers, the own profit, that's okay. In the case of the Salaries of the bench top but I can't.

asked about the Rounding-Paradox, explained a Bank spokesman, that the rounding used in the large Bank "follow clear rules." And the values would always be in decimal as well as rounded. The "NZZ on Sunday" 've rounded up the salary of the first decimal place to the nearest Million before the decimal point. "However, if the first digit after the decimal point to the digit before decimal point is rounded up, one obtains substantially altered Figures, we need to make it clear," said the Bank.

Rising Salaries despite a falling share price

critics of the salary policy like to make in the light of this reasoning, round eyes. But after all, the big Bank reached klauberei with the Numbers, that is the million salaries of their top management to stay in the conversation. At the annual General meeting on 26. April should, therefore, go back around. Also, if there are two very different Figures in the foreground stand: 30 and 37. So Thiams wage increased by about 30 percent. The Credit-Suisse-owners have lost in the past year, approximately 37 percent. Round thing, is it? (Editorial Tamedia)

Created: 15.04.2019, 15:38 PM

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