Does it add to a firm’s ethical credibility if it forces its staff to give to charity?
Coming on the heels of our last blog…..
We understand that Credit Suisse is going to insist that some of their staff make contributions to a charity.
In America the managing directors will be giving 2.5% of their bonuses to good works. Of course how many of them will simply knock this off what they would have been giving anyway no one can know.
A lot of the bonuses will be in shares rather than cash and this brings Credit Suisse into line with EU regulation (although because they are based in Switzerland this is a purely voluntary decision)
None of this will affect their chief exec taking his £47 million bonus last year.
I’m not sure that this sort of tokenism really addresses the problem – in fact I think it harms the process.
For more see Megan’s article at: http://bit.ly/dJfT5w
