Ronner in Tax Heaven – Inside Paradeplatz

Urs Rohner was responsible for CS fortunes as head helm until 2021. After a good year, the bank faces a stress test.

The lawyer himself came first 10 years ago. He got about 50 million, a little of it in stocks and a lot of cash.

Now he has moved his residence to low-tax Willen near Wollerau: to an apartment in an inconspicuous settlement. This makes CS income more valuable.

The bank is in trouble, get out of it yourself: the Federation does not like it. Yesterday, this called Ronner to pay off his rewards. That would be decency.

Under Ronner, CEOs became gilded managers. Brady Duggan received $150 million in his eight years, 91 of them in 2010 alone.

At that time, an additional bonus was paid. Walter “Valley” Berchtold also benefited from it. He raised about 40 million that spring.

The money mail went directly to Tidjane Thiam. First a golden welcome, then 10 million annually for 3 years, and finally a truffle farewell.

Makes about 80 million for the short-range group leader, all of which are certified by Captain Ronner.

Even Thomas Gottstein, who took over operations leadership from Thiam at the start of 2020 and cut an unhappy character in the next two years, got his money’s worth.

At least in his first year. For 10 good months as CEO, the Zurich native earned 8.5 million in 2020.

Only the heavy losses that followed made further standard compensation no longer possible.

Dugan, Berchtold Valley, Thiam, and Gotstein became very wealthy – as employees. They can thank Urs Runner for this.

Personally, he was often referring to humility when I got my CS back under the wheels.

Then the attorney at the head of Escher Bank “voluntarily” ceded the million or so that was owed to him as chairman.

The “stunt” worked. Ronner has never been described as a brazen “stealer.”

He has managed to fly under the radar screen in this regard – unlike his UBS counterpart Axel Weber.

The German got up to 50 percent more than Rohner. But Weber’s work at UBS is also impressive. The number 1 is fixed.

Unlike investors, Rohner, who didn’t use the 10 years to turn CS into a solid asset manager without a risky investment bank, got the bill.

Turning back, just in time to leave in the spring of 2021, amid the din of billions in losses in New York and London, he managed to break out of the line of fire.

The recent earnings from his time in CS are even more valuable thanks to the move from Gold Coast, where taxes are relatively low, to very cheap Schwyzer-Land.

The pessimists said it was done right. or Bigshots, who refuse to voluntarily give up intelligence as a naive romantic.