As Profit Slips, Credit Suisse Increases C.E.O. Pay by 34%

LONDON - Even as the bank’s profit slipped, Credit Suisse increased pay for its chief executive, Brady W. Dougan, by 34 percent.

Mr. Dougan received 7.8 million Swiss francs ($8.2 million) for 2012, compared to 5.8 million francs for the previous year, the bank said in its annual report published on Friday. Robert Shafir, the co-head of the private banking and wealth management unit, was the highest paid member of Credit Suisse’s executive board, receiving 10.6 million francs, compared with 8.5 million francs in 2011.

The rising pay packages could add to the scrutiny surrounding banks.

Big banks have come under pressure to cut their compensations levels, as their stocks stagnate and they lay off staff. A new law in Switzerland, which is expected to come into place in next year, will also give shareholders greater say in pay. European policymakers also are pushing ahead with stringent caps on bankers’ bonuses that are expected to take effect over the next two years.

The move comes as many top executives at Europe’s largest banks continue to pocket large compensation packages. On Wednesday, Rich Ricci, head of Barclays’ investment banking unit, cashed in $26 million of deferred shares as part of bonuses that he received from 2009 to 2011.

Like many European banks, Credit Suisse has been attempting to remake its business, in the face of a sluggish global economy and new industry regulation. It’s been a difficult profit environment. Last year, the company’s net income dropped by 31 percent to 1.35 billion Swiss francs. During the same period, the stock rose just around 4 percent.

Credit Suisse’s compensation committee said Mr. Dougan’s compensation was based on “his achievements in positioning the firm for the future,” including “the significant progress made in transitioning the business to the new regulatory and market environment and to meeting challenging new capital requirements.”

As part of a major overhaul of the bank’s operations, the Swiss bank announced in November that it was appointing a co-head of investment banking and merging its asset management division into its wealth management and private banking unit. Credit Suisse also plans to cut costs by $4.83 billion by the end of 2015.

The push is starting to show some results. In the last quarter of 2012, Credit Suisse had a profit of was 397 million francs in the three months until Dec. 31 of last year. It posted a loss of 637 million francs in the same period the previous year.